Lemonade (NYSE:LMND) Trading Up 5% – Here’s Why

Shares of Lemonade, Inc. (NYSE:LMND) rose 5% on Tuesday . The company traded as high as $18.48 and last traded at $18.42. Approximately 669,758 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 1,585,733 shares. The stock had previously closed at $17.54.

Wall Street Analysts Forecast Growth

LMND has been the subject of a number of research reports. Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and a consensus target price of $20.17.

Lemonade Trading Down 0.9 %

The firm’s fifty day moving average price is $17.41 and its two-hundred day moving average price is $17.45. The stock has a market capitalization of $1.34 billion, a PE ratio of -6.04 and a beta of 1.77.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.07. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The business had revenue of $122.00 million during the quarter, compared to the consensus estimate of $121.77 million. During the same quarter in the prior year, the firm posted ($0.97) earnings per share. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares in the company, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several hedge funds and other institutional investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC acquired a new stake in Lemonade in the 2nd quarter valued at about $180,000. Capstone Investment Advisors LLC acquired a new position in Lemonade during the first quarter worth $214,000. Headlands Technologies LLC purchased a new stake in Lemonade in the 1st quarter valued at $231,000. Seven Eight Capital LP purchased a new stake in Lemonade in the 2nd quarter valued at $269,000. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Lemonade by 18.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after acquiring an additional 2,710 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

About Lemonade

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.