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

Mach 1 Financial Group LLC trimmed its stake in Lyft, Inc. (NASDAQ:LYFT) by 28.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing.

Several other institutional investors have also made changes to their positions in LYFT. Thompson Davis & CO. Inc. bought a new position in Lyft during the 4th quarter valued at about $326,000. Van ECK Associates Corp bought a new stake in shares of Lyft during the fourth quarter worth approximately $1,830,000. Truist Financial Corp grew its holdings in Lyft by 3.2% during the fourth quarter. Truist Financial Corp now owns 58,094 shares of the ride-sharing company’s stock valued at $871,000 after purchasing an additional 1,781 shares during the period. Duality Advisers LP acquired a new position in Lyft during the fourth quarter valued at approximately $3,177,000. Finally, Handelsbanken Fonder AB grew its holdings in Lyft by 29.2% during the fourth quarter. Handelsbanken Fonder AB now owns 63,300 shares of the ride-sharing company’s stock valued at $949,000 after purchasing an additional 14,300 shares during the period. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Stock Up 1.0 %

Shares of LYFT stock traded up $0.16 on Wednesday, hitting $15.80. The stock had a trading volume of 2,033,844 shares, compared to its average volume of 16,105,456. The business has a 50 day moving average of $17.68 and a 200 day moving average of $14.36. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.87 and a current ratio of 0.87. Lyft, Inc. has a 12-month low of $7.85 and a 12-month high of $20.82.

Lyft (NASDAQ:LYFT) last announced its earnings results on Tuesday, February 13th. The ride-sharing company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.14. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Lyft had a negative net margin of 7.73% and a negative return on equity of 54.80%. Equities research analysts anticipate that Lyft, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Lyft from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Argus upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. TD Cowen boosted their price objective on shares of Lyft from $10.00 to $12.00 and gave the stock a “market perform” rating in a research report on Monday, January 22nd. Finally, Barclays boosted their price objective on shares of Lyft from $14.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.60.

Insider Activity

In other news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total value of $85,163.40. Following the completion of the sale, the president now owns 633,950 shares in the company, valued at $9,521,929. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Kristin Sverchek sold 5,670 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $15.02, for a total transaction of $85,163.40. Following the completion of the transaction, the president now owns 633,950 shares in the company, valued at $9,521,929. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Patrick Zimmer sold 15,724 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $17.51, for a total transaction of $275,327.24. Following the transaction, 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. Insiders sold a total of 270,526 shares of company stock worth $5,195,771 over the last quarter. 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.