Illinois Municipal Retirement Fund Acquires 96,086 Shares of Lyft, Inc. $LYFT

Illinois Municipal Retirement Fund boosted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 25.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 478,555 shares of the ride-sharing company’s stock after buying an additional 96,086 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Lyft were worth $6,365,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LYFT. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Lyft during the 4th quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in shares of Lyft in the fourth quarter worth approximately $40,000. Huntington National Bank raised its holdings in shares of Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 1,374 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Lyft by 763.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,073 shares of the ride-sharing company’s stock valued at $59,000 after purchasing an additional 2,717 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Lyft by 410.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 2,587 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

LYFT opened at $15.52 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 2.27, a PEG ratio of 0.95 and a beta of 1.80. The company’s 50 day moving average is $14.34 and its 200 day moving average is $14.93. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the firm posted $0.01 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that Lyft, Inc. will post 0.69 EPS for the current year.

Insider Buying and Selling at Lyft

In related news, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the transaction, the chief accounting officer directly owned 335,463 shares of the company’s stock, valued at approximately $4,615,970.88. This trade represents a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the transaction, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 45,535 shares of company stock worth $637,456. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LYFT shares. Roth Capital restated a “buy” rating and issued a $23.00 target price on shares of Lyft in a report on Friday, May 8th. Royal Bank Of Canada decreased their target price on shares of Lyft from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Lyft in a report on Wednesday, May 6th. Truist Financial raised their price target on Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein initiated coverage on Lyft in a report on Wednesday, June 17th. They issued an “underperform” rating for the company. Thirteen analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and an average target price of $19.40.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.