Lemonade, Inc. (NYSE:LMND) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Lemonade, Inc. (NYSE:LMND) have earned an average rating of “Reduce” from the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.50.

Separately, Jefferies Financial Group reduced their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday.

Lemonade Trading Up 2.6 %

Shares of NYSE:LMND traded up $0.41 during mid-day trading on Wednesday, reaching $16.14. The company had a trading volume of 803,966 shares, compared to its average volume of 1,590,379. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -5.16 and a beta of 1.77. The company’s 50-day moving average price is $17.27 and its 200-day moving average price is $17.40. Lemonade has a one year low of $10.27 and a one year high of $24.55.

Lemonade (NYSE:LMND) last posted its quarterly 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. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The company had revenue of $122.00 million for the quarter, compared to analysts’ expectations of $121.77 million. During the same quarter in the previous year, the firm posted ($0.97) EPS. Lemonade’s revenue was up 16.6% on a year-over-year basis. On average, research analysts anticipate that Lemonade will post -3.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Timothy E. Bixby sold 2,050 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

Institutional investors and hedge funds have recently bought and sold shares of the stock. Concurrent Investment Advisors LLC purchased a new position in shares of Lemonade in the 2nd quarter worth $180,000. Capstone Investment Advisors LLC purchased a new position in shares of Lemonade during the 1st quarter worth about $214,000. Headlands Technologies LLC purchased a new position in shares of Lemonade during the 1st quarter worth about $231,000. Seven Eight Capital LP purchased a new position in shares of Lemonade during the 2nd quarter worth about $269,000. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Lemonade by 18.7% during the 1st 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 period. 80.30% of the stock is currently owned by institutional investors.

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.