Illinois Municipal Retirement Fund Raises Position in Lyft, Inc. $LYFT

Illinois Municipal Retirement Fund boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 111.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 195,315 shares of the ride-sharing company’s stock after buying an additional 103,118 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lyft were worth $3,078,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. bought a new stake in Lyft during the second quarter valued at approximately $32,000. Bogart Wealth LLC grew its stake in Lyft by 1,242.2% in the 2nd quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after buying an additional 2,000 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Lyft in the 1st quarter worth $35,000. Finally, Signaturefd LLC increased its holdings in shares of Lyft by 89.5% in the 1st quarter. Signaturefd LLC now owns 4,021 shares of the ride-sharing company’s stock worth $48,000 after buying an additional 1,899 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LYFT shares. Royal Bank Of Canada lifted their price objective on shares of Lyft from $21.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen lowered Lyft from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft upped their target price on Lyft from $21.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, November 7th. BMO Capital Markets upped their price target on shares of Lyft from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Thursday, November 6th. Finally, UBS Group lifted their price target on Lyft from $15.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.72.

Insider Activity at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the transaction, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. This represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares of the company’s stock, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 74,427 shares of company stock worth $1,252,686 over the last 90 days. 3.07% of the stock is owned by company insiders.

Lyft Price Performance

Shares of Lyft stock opened at $23.80 on Friday. The business has a 50 day moving average of $20.88 and a 200 day moving average of $17.17. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $25.54. The company has a market cap of $9.67 billion, a PE ratio of 62.63, a P/E/G ratio of 2.44 and a beta of 2.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.