Jefferies Financial Group Trims Lemonade (NYSE:LMND) Target Price to $14.00

Lemonade (NYSE:LMND) had its target price reduced by equities researchers at Jefferies Financial Group from $15.00 to $14.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Jefferies Financial Group’s price target would indicate a potential downside of 13.26% from the stock’s current price.

Lemonade Trading Up 2.6 %

NYSE:LMND traded up $0.41 during trading hours on Wednesday, reaching $16.14. The company had a trading volume of 704,737 shares, compared to its average volume of 1,589,870. The firm’s 50 day moving average price is $17.27 and its 200-day moving average price is $17.40. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -5.11 and a beta of 1.77. Lemonade has a 52 week low of $10.27 and a 52 week high of $24.55.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.07. The company had revenue of $122.00 million during the quarter, compared to analysts’ expectations of $121.77 million. Lemonade had a negative return on equity of 30.34% and a negative net margin of 44.24%. Lemonade’s revenue for the quarter 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, analysts forecast that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Several institutional investors and hedge funds have recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new stake in Lemonade during the second quarter valued at about $180,000. Capstone Investment Advisors LLC purchased a new position in Lemonade in the 1st quarter worth approximately $214,000. Headlands Technologies LLC bought a new position in Lemonade in the 1st quarter worth approximately $231,000. Seven Eight Capital LP bought a new position in shares of Lemonade during the second quarter worth $269,000. Finally, State Board of Administration of Florida Retirement System increased its holdings 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 acquiring an additional 2,710 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

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.