Lemonade (NYSE:LMND) Stock Price Down 3.9%

Lemonade, Inc. (NYSE:LMND)’s stock price dropped 3.9% during mid-day trading on Monday . The company traded as low as $17.55 and last traded at $17.62. Approximately 226,770 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,610,062 shares. The stock had previously closed at $18.34.

Lemonade Trading Down 4.3 %

The stock has a market cap of $1.24 billion, a P/E ratio of -5.56 and a beta of 1.78. The firm’s fifty day moving average is $18.68 and its 200 day moving average is $17.40.

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

Insider Buying and Selling

In other news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now owns 271,552 shares in the company, valued at approximately $4,953,108.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently modified their holdings of LMND. Marshall Wace LLP bought a new position in shares of Lemonade during the second quarter valued at $14,181,000. General Equity Holdings LP acquired a new position in Lemonade in the second quarter valued at about $5,198,000. GSA Capital Partners LLP acquired a new position in Lemonade in the first quarter valued at about $3,100,000. Millennium Management LLC increased its holdings in shares of Lemonade by 388.7% during the second quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after buying an additional 131,784 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Lemonade in the second quarter valued at approximately $737,000. 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.