Lemonade (NYSE:LMND) Trading 5% Higher

Lemonade, Inc. (NYSE:LMND) shares shot up 5% on Wednesday . The stock traded as high as $19.30 and last traded at $19.24. 256,044 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,656,807 shares. The stock had previously closed at $18.33.

Lemonade Price Performance

The company has a market cap of $1.30 billion, a P/E ratio of -6.04 and a beta of 1.78. The firm’s 50-day moving average is $18.47 and its two-hundred day moving average is $17.36.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.07. The company had revenue of $122.00 million during the quarter, compared to analyst estimates of $121.77 million. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. Lemonade’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.97) earnings per share. As a group, sell-side analysts expect that Lemonade, Inc. will post -3.03 EPS for the current year.

Insider Buying and Selling at Lemonade

In other Lemonade news, CFO Timothy E. Bixby acquired 15,000 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $15.51 per share, with a total value of $232,650.00. Following the transaction, the chief financial officer now directly owns 25,000 shares of the company’s stock, valued at approximately $387,750. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lemonade by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock valued at $1,853,000 after buying an additional 9,107 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Lemonade during the 1st quarter worth approximately $477,000. Trexquant Investment LP acquired a new stake in Lemonade during the 4th quarter valued at approximately $272,000. Tidal Investments LLC purchased a new stake in shares of Lemonade in the 1st quarter valued at $718,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Lemonade by 18.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after purchasing an additional 2,710 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.