SG Americas Securities LLC Grows Stake in Lyft, Inc. $LYFT

SG Americas Securities LLC boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 152.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 594,022 shares of the ride-sharing company’s stock after acquiring an additional 358,450 shares during the quarter. SG Americas Securities LLC owned 0.15% of Lyft worth $11,506,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Heartland Advisors Inc. lifted its stake in shares of Lyft by 68.2% in the 3rd quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock worth $13,092,000 after purchasing an additional 241,250 shares during the period. CWM LLC boosted its holdings in shares of Lyft by 52.1% in the third quarter. CWM LLC now owns 819,677 shares of the ride-sharing company’s stock worth $18,041,000 after buying an additional 280,886 shares during the last quarter. Hussman Strategic Advisors Inc. bought a new stake in Lyft during the third quarter valued at approximately $2,080,000. Abacus FCF Advisors LLC purchased a new stake in Lyft during the third quarter valued at approximately $6,442,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Lyft by 15.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 426,314 shares of the ride-sharing company’s stock valued at $9,029,000 after buying an additional 56,117 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In related news, CAO Stephen W. Hope sold 5,284 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the completion of the transaction, the chief accounting officer directly owned 300,570 shares of the company’s stock, valued at approximately $4,156,883.10. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $13.89, for a total value of $29,071.77. Following the completion of the sale, the director directly owned 32,185 shares in the company, valued at $447,049.65. This trade represents a 6.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 31,038 shares of company stock worth $416,841. 3.07% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on LYFT shares. UBS Group reiterated a “neutral” rating on shares of Lyft in a research note on Monday, February 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. Arete Research set a $20.00 target price on Lyft and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada cut their price target on Lyft from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, February 11th. Finally, Roth Mkm set a $22.00 price target on Lyft in a research report on Wednesday, February 11th. Nine 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $19.62.

Lyft Stock Performance

Shares of LYFT opened at $12.86 on Monday. 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, Inc. has a 1 year low of $9.66 and a 1 year high of $25.54. The company has a 50 day simple moving average of $14.76 and a two-hundred day simple moving average of $18.59. The firm has a market cap of $5.12 billion, a P/E ratio of 1.89, a price-to-earnings-growth ratio of 0.77 and a beta of 1.92.

Lyft announced that its board has authorized a stock buyback 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 a sign that the company’s board believes its stock is undervalued.

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.