Towle & Co. Takes Position in Lyft, Inc. $LYFT

Towle & Co. purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 546,294 shares of the ride-sharing company’s stock, valued at approximately $12,024,000. Lyft accounts for 3.0% of Towle & Co.’s investment portfolio, making the stock its 6th largest holding. Towle & Co. owned 0.13% of Lyft as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LYFT. Quent Capital LLC purchased a new stake in shares of Lyft in the third quarter valued at about $34,000. Abich Financial Wealth Management LLC acquired a new position in Lyft in the 3rd quarter valued at about $50,000. Tower Research Capital LLC TRC raised its stake in Lyft by 410.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after acquiring an additional 2,587 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in Lyft during the 3rd quarter worth approximately $55,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in Lyft during the 2nd quarter worth approximately $62,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Key Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Bullish take arguing Lyft still has “incredible upside” despite autonomous?vehicle fears, highlighting potential long?term value if execution/monetization improves. Lyft: Incredible Upside Potential Despite AV Fears
• Neutral Sentiment: Lyft CFO Erin Brewer will appear at the Bernstein TMT forum next week; the fireside chat (webcast available) gives management a venue to address guidance, margin plans and cost discipline with investors. Lyft CFO to Participate in Fireside Chat at the Bernstein TMT Forum
• Neutral Sentiment: Comparisons between Uber and Lyft after Q4 suggest both firms missed, but analysts point to differences in valuation, buybacks and recent price performance when choosing which ride?hailer might rebound faster. That framing leaves Lyft more exposed to sentiment shifts. UBER vs. LYFT: Which Ride?Hailing Stock Is Better Placed Post Q4?
• Negative Sentiment: Q4 update: revenue growth missed expectations even though non?GAAP profit topped forecasts — investors have punished the stock on growth concerns, contributing to sharp short?term declines. Lyft (NasdaqGS:LYFT) Valuation Check After Q4 Miss On Revenue Growth But Beat On Non GAAP Profit
• Negative Sentiment: Analysts have trimmed Lyft’s fair value and nudged up required returns, lowering growth assumptions (fair value moved from ~$24.07 to ~$20.31 in one note) — a direct headwind for sentiment and target prices. How The Story Behind Lyft (LYFT) Is Changing As Analysts Reset Expectations
• Negative Sentiment: Local criminal case: two teens charged in a fatal shooting of a Lyft driver — a reputational and liability issue that can raise regulatory/safety scrutiny and insurance/legal costs. 2 teens charged for Lyft driver’s deadly shooting
• Negative Sentiment: Operational cost pressure at airports: reports say SFO is collecting record fees from Uber and Lyft, which can squeeze margins on key pickup/drop?off locations and make unit economics tougher. SFO is taking your Uber and Lyft cash at a new record high

Analyst Ratings Changes

LYFT has been the subject of several analyst reports. Sanford C. Bernstein upped their price target on Lyft from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, November 10th. KeyCorp restated a “sector weight” rating on shares of Lyft in a research report on Wednesday, February 11th. Arete Research set a $20.00 target price on shares of Lyft and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Barclays dropped their price target on shares of Lyft from $27.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Finally, TD Cowen reissued a “buy” rating on shares of Lyft in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.66.

Lyft Stock Performance

NASDAQ LYFT opened at $13.95 on Friday. The business has a 50 day moving average price of $17.75 and a 200 day moving average price of $18.99. The company has a market capitalization of $5.57 billion, a P/E ratio of 2.05, a PEG ratio of 0.81 and a beta of 1.93. Lyft, Inc. has a 1-year low of $9.66 and a 1-year high of $25.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.65 and a quick ratio of 0.65.

Lyft announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 15.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Lyft

In other Lyft news, Director David Lawee sold 6,578 shares of Lyft stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $22.55, for a total transaction of $148,333.90. Following the completion of the transaction, the director owned 104,460 shares in the company, valued at approximately $2,355,573. The trade was a 5.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jill Beggs sold 1,466 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $20.25, for a total transaction of $29,686.50. Following the completion of the sale, the director owned 34,278 shares in the company, valued at $694,129.50. This represents a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 187,443 shares of company stock worth $4,178,618. Insiders own 3.07% of the company’s stock.

Lyft Company 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.