Huber Capital Management LLC Has $9.80 Million Stock Holdings in Lyft, Inc. (NASDAQ:LYFT)

Huber Capital Management LLC decreased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 759,433 shares of the ride-sharing company’s stock after selling 64,729 shares during the quarter. Lyft makes up about 2.0% of Huber Capital Management LLC’s holdings, making the stock its 20th biggest position. Huber Capital Management LLC owned approximately 0.18% of Lyft worth $9,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Lyft in the fourth quarter valued at about $49,599,000. Maple Rock Capital Partners Inc. lifted its holdings in shares of Lyft by 84.8% during the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after buying an additional 2,838,000 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Lyft by 7,536.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after acquiring an additional 1,830,533 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Lyft during the third quarter worth $13,430,000. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 5.9 %

NASDAQ:LYFT opened at $12.95 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $19.55. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 215.83, a PEG ratio of 1.90 and a beta of 2.15. The business’s 50-day moving average price is $12.87 and its two-hundred day moving average price is $13.84.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, equities analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its board has authorized a share repurchase program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now owns 911,922 shares in the company, valued at approximately $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

LYFT has been the topic of several research reports. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, January 6th. Cantor Fitzgerald decreased their price target on shares of Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Royal Bank of Canada restated an “outperform” rating and issued a $21.00 price objective on shares of Lyft in a research note on Monday, March 17th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. Finally, KeyCorp reissued a “sector weight” rating on shares of Lyft in a research report on Wednesday, March 26th. Twenty-seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.03.

Lyft 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.