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

Lemonade, Inc. (NYSE:LMND)’s stock price rose 5% during mid-day 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 Upgrades and Downgrades

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

Lemonade Trading Up 6.7 %

The company has a market capitalization of $1.32 billion, a PE ratio of -5.99 and a beta of 1.77. The company has a fifty day simple moving average of $17.26 and a 200-day simple moving average of $17.42.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $121.77 million. During the same period last year, the business earned ($0.97) earnings per share. Lemonade’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts predict that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Lemonade

A number of institutional investors have recently modified their holdings of LMND. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lemonade by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock valued at $1,853,000 after purchasing an additional 9,107 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Lemonade in the 1st quarter valued at approximately $477,000. Squarepoint Ops LLC grew its stake in shares of Lemonade by 436.2% in the second quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock worth $752,000 after acquiring an additional 37,073 shares in the last quarter. Tidal Investments LLC purchased a new stake in shares of Lemonade during the first quarter worth $718,000. Finally, Caxton Associates LP acquired a new stake in shares of Lemonade in the second quarter valued at $737,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.