Lemonade (NYSE:LMND) Stock Price Up 5% – Here’s Why

Lemonade, Inc. (NYSE:LMND)’s share price shot up 5% during mid-day trading on Tuesday . The company traded as high as $18.48 and last traded at $18.42. 669,758 shares traded hands during trading, a decline of 58% from the average session volume of 1,585,733 shares. The stock had previously closed at $17.54.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. JMP Securities reiterated a “market outperform” rating and set a $40.00 price objective on shares of Lemonade in a research note on Tuesday. Jefferies Financial Group dropped their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.17.

Lemonade Price Performance

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

Lemonade (NYSE:LMND) last issued its earnings results on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.07. The firm had revenue of $122.00 million for the quarter, compared to the consensus estimate of $121.77 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 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.97) earnings per share. On average, equities research analysts anticipate that Lemonade, Inc. will post -3.04 EPS for the current fiscal year.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction 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 completion of the transaction, the chief financial officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several institutional investors have recently bought and sold shares of LMND. Axiom Advisory LLC lifted its position in shares of Lemonade by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after buying an additional 850 shares in the last quarter. SG Americas Securities LLC purchased a new position in Lemonade during the third quarter valued at $308,000. Algert Global LLC grew its position in shares of Lemonade by 6.8% in the second quarter. Algert Global LLC now owns 82,883 shares of the company’s stock valued at $1,368,000 after purchasing an additional 5,295 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Lemonade by 9.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $482,000 after purchasing an additional 2,582 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after purchasing an additional 131,784 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.