Lemonade (NYSE:LMND) Price Target Cut to $14.00

Lemonade (NYSE:LMND) had its price objective lowered by Jefferies Financial Group from $15.00 to $14.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an underperform rating on the stock.

Lemonade Stock Up 2.8 %

LMND stock opened at $17.39 on Wednesday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -5.86 and a beta of 1.77. Lemonade has a fifty-two week low of $10.27 and a fifty-two week high of $24.55. The business has a 50 day moving average price of $17.25 and a 200 day moving average price of $17.41.

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.07. The business had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $121.77 million. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.97) EPS. As a group, sell-side analysts anticipate that Lemonade will post -3.04 EPS for the current year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Institutional investors have recently modified their holdings of the business. Concurrent Investment Advisors LLC purchased a new stake in Lemonade during the 2nd quarter valued at approximately $180,000. Capstone Investment Advisors LLC acquired a new position in shares of Lemonade in the first quarter valued at approximately $214,000. Headlands Technologies LLC purchased a new stake in shares of Lemonade during the first quarter worth approximately $231,000. Seven Eight Capital LP acquired a new stake in shares of Lemonade during the second quarter worth $269,000. Finally, State Board of Administration of Florida Retirement System grew its position in 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 valued at $283,000 after buying an additional 2,710 shares during the last quarter. 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.