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

Lemonade, Inc. (NYSE:LMND) was up 5% during trading 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.

Analyst Ratings Changes

LMND has been the subject of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a research report on Tuesday. Jefferies Financial Group dropped their target price on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Two equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.17.

Lemonade Stock Down 0.9 %

The firm has a market cap of $1.34 billion, a PE ratio of -6.04 and a beta of 1.77. The business has a 50-day moving average price of $17.41 and a two-hundred day moving average price of $17.45.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.07. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The company had revenue of $122.00 million for the quarter, compared to analyst estimates of $121.77 million. During the same quarter last year, the company earned ($0.97) EPS. Lemonade’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, equities research analysts predict that Lemonade, Inc. will post -3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby sold 2,050 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the business. Concurrent Investment Advisors LLC purchased a new position in shares of Lemonade in the 2nd quarter valued at approximately $180,000. Capstone Investment Advisors LLC purchased a new position in Lemonade in the 1st quarter valued at $214,000. Headlands Technologies LLC acquired a new position in Lemonade in the 1st quarter valued at $231,000. Seven Eight Capital LP purchased a new position in Lemonade during the 2nd quarter worth $269,000. Finally, State Board of Administration of Florida Retirement System lifted 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 period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.