Mach 1 Financial Group LLC Has $506,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Mach 1 Financial Group LLC decreased its stake in Lyft, Inc. (NASDAQ:LYFT) by 28.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,776 shares of the ride-sharing company’s stock after selling 13,755 shares during the period. Mach 1 Financial Group LLC’s holdings in Lyft were worth $506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LYFT. Vanguard Group Inc. increased its stake in shares of Lyft by 3.7% in the third quarter. Vanguard Group Inc. now owns 31,457,522 shares of the ride-sharing company’s stock valued at $331,562,000 after buying an additional 1,135,036 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Lyft by 42.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,488,609 shares of the ride-sharing company’s stock worth $36,770,000 after purchasing an additional 1,043,719 shares during the period. Invesco Ltd. grew its stake in Lyft by 21.3% during the third quarter. Invesco Ltd. now owns 4,425,740 shares of the ride-sharing company’s stock worth $46,647,000 after purchasing an additional 778,563 shares during the period. Canada Pension Plan Investment Board grew its stake in Lyft by 123.4% during the third quarter. Canada Pension Plan Investment Board now owns 1,208,700 shares of the ride-sharing company’s stock worth $12,740,000 after purchasing an additional 667,600 shares during the period. Finally, Knollwood Investment Advisory LLC acquired a new stake in Lyft during the third quarter worth approximately $5,982,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Trading Up 1.0 %

Shares of LYFT stock traded up $0.16 on Wednesday, hitting $15.80. 2,033,844 shares of the stock traded hands, compared to its average volume of 16,105,456. The firm’s 50-day moving average price is $17.68 and its two-hundred day moving average price is $14.36. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 1.55. Lyft, Inc. has a twelve month low of $7.85 and a twelve month high of $20.82.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Tuesday, February 13th. The ride-sharing company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.14. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. As a group, sell-side analysts forecast that Lyft, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price target on Lyft from $15.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, April 8th. Barclays boosted their price target on Lyft from $14.00 to $17.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. The Goldman Sachs Group downgraded Lyft from a “buy” rating to a “neutral” rating and upped their target price for the stock from $12.00 to $15.00 in a report on Thursday, January 11th. Truist Financial upped their price objective on Lyft from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Finally, Tigress Financial increased their price target on Lyft from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.60.

Insider Activity at Lyft

In other Lyft news, President Kristin Sverchek sold 3,500 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.51, for a total transaction of $61,285.00. Following the sale, the president now directly owns 96,978 shares in the company, valued at $1,698,084.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, President Kristin Sverchek sold 3,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.51, for a total value of $61,285.00. Following the completion of the sale, the president now directly owns 96,978 shares of the company’s stock, valued at $1,698,084.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Patrick Zimmer sold 15,724 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $17.51, for a total value of $275,327.24. Following the sale, the director now owns 1,204,071 shares of the company’s stock, valued at approximately $21,083,283.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,526 shares of company stock worth $5,195,771. Company insiders own 3.16% of the company’s stock.

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.