Lemonade (NYSE:LMND) Trading 5% Higher

Lemonade, Inc. (NYSE:LMND)’s stock price rose 5% during trading on Wednesday . The company traded as high as $19.30 and last traded at $19.24. Approximately 256,044 shares were traded during trading, a decline of 85% from the average daily volume of 1,656,807 shares. The stock had previously closed at $18.33.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lifted their price target on shares of Lemonade from $14.00 to $16.00 and gave the company an “underperform” rating in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.86.

Lemonade Stock Up 2.0 %

The stock has a market capitalization of $1.33 billion, a P/E ratio of -5.86 and a beta of 1.78. The stock’s 50 day moving average price is $18.38 and its 200-day moving average price is $17.34.

Lemonade (NYSE:LMND) last announced its earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.07. The business had revenue of $122.00 million for the quarter, compared to analysts’ expectations of $121.77 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.97) EPS. Analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby acquired 15,000 shares of Lemonade stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average price of $15.51 per share, for a total transaction of $232,650.00. Following the purchase, the chief financial officer now directly owns 25,000 shares in the company, valued at approximately $387,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of Lemonade by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock valued at $7,417,000 after purchasing an additional 6,809 shares during the last quarter. Jump Financial LLC purchased a new position in Lemonade in the 4th quarter worth $292,000. WMG Financial Advisors LLC lifted its position in Lemonade by 16.8% during the 4th quarter. WMG Financial Advisors LLC now owns 18,450 shares of the company’s stock worth $298,000 after acquiring an additional 2,650 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Lemonade during the 4th quarter valued at about $439,000. Finally, Trexquant Investment LP acquired a new position in shares of Lemonade in the fourth quarter valued at about $272,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.