Lemonade (NYSE:LMND) Stock Price Up 6%

Shares of Lemonade, Inc. (NYSE:LMND) rose 6% on Thursday . The company traded as high as $18.77 and last traded at $18.73. Approximately 280,899 shares were traded during trading, a decline of 83% from the average daily volume of 1,666,277 shares. The stock had previously closed at $17.67.

Wall Street Analyst Weigh In

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

Lemonade Stock Performance

The company has a 50 day simple moving average of $18.28 and a two-hundred day simple moving average of $17.32. The firm has a market cap of $1.31 billion, a PE ratio of -5.92 and a beta of 1.78.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share 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 company had revenue of $122.00 million for the quarter, compared to the consensus estimate of $121.77 million. During the same quarter in the prior year, the company earned ($0.97) EPS. Lemonade’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts predict that Lemonade, Inc. will post -2.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Lemonade

In related news, CFO Timothy E. Bixby purchased 15,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $15.51 per share, with a total value of $232,650.00. Following the completion of the acquisition, the chief financial officer now owns 25,000 shares of the company’s stock, valued at approximately $387,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Timothy E. Bixby sold 2,077 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $16.03, for a total transaction of $33,294.31. Following the sale, the chief financial officer now directly owns 273,602 shares of the company’s stock, valued at approximately $4,385,840.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Timothy E. Bixby bought 15,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were acquired at an average price of $15.51 per share, for a total transaction of $232,650.00. Following the completion of the transaction, the chief financial officer now directly owns 25,000 shares in the company, valued at $387,750. The disclosure for this purchase can be found here. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently bought and sold shares of LMND. Charles Schwab Investment Management Inc. raised its stake in shares of Lemonade by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock worth $7,417,000 after buying an additional 6,809 shares during the period. Jump Financial LLC purchased a new position in Lemonade during the fourth quarter valued at $292,000. WMG Financial Advisors LLC grew its position in shares of Lemonade by 16.8% in the fourth quarter. WMG Financial Advisors LLC now owns 18,450 shares of the company’s stock valued at $298,000 after purchasing an additional 2,650 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Lemonade during the fourth quarter worth about $439,000. Finally, Trexquant Investment LP acquired a new position in shares of Lemonade during the 4th quarter worth about $272,000. 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.