Traders Buy Large Volume of Call Options on Lemonade (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) was the recipient of unusually large options trading on Thursday. Stock investors acquired 29,965 call options on the company. This represents an increase of 357% compared to the typical volume of 6,554 call options.

Lemonade Trading Up 27.6 %

Shares of LMND stock traded up $5.18 during mid-day trading on Thursday, reaching $23.93. The stock had a trading volume of 6,787,894 shares, compared to its average volume of 1,589,332. The business’s fifty day moving average is $17.87 and its 200-day moving average is $17.59. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -8.40 and a beta of 1.77. Lemonade has a 1-year low of $10.64 and a 1-year high of $25.40.

Lemonade (NYSE:LMND) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. The company’s revenue was up 19.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.88) earnings per share. On average, analysts forecast that Lemonade will post -3.04 earnings per share for the current year.

Wall Street Analyst Weigh In

LMND has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a research note on Tuesday, October 15th. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.17.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lemonade by 8.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock worth $1,853,000 after acquiring an additional 9,107 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Lemonade during the first quarter worth about $214,000. GSA Capital Partners LLP acquired a new stake in Lemonade during the first quarter worth about $3,100,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lemonade during the first quarter worth about $477,000. Finally, Headlands Technologies LLC acquired a new stake in Lemonade during the first quarter worth about $231,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.