Lemonade Target of Unusually Large Options Trading (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) saw unusually large options trading on Thursday. Traders bought 29,965 call options on the company. This is an increase of approximately 357% compared to the average daily volume of 6,554 call options.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade 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 transaction, the chief financial officer now owns 271,552 shares in the company, valued at $4,953,108.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Lemonade

Several institutional investors and hedge funds have recently made changes to their positions in LMND. Mirae Asset Global Investments Co. Ltd. increased its stake in Lemonade by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock valued at $1,853,000 after purchasing an additional 9,107 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Lemonade in the first quarter valued at $477,000. Millennium Management LLC raised its stake in shares of Lemonade by 388.7% in the second 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. Squarepoint Ops LLC lifted its stake in Lemonade by 436.2% during the 2nd quarter. Squarepoint Ops LLC now owns 45,573 shares of the company’s stock valued at $752,000 after acquiring an additional 37,073 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Lemonade in the 1st quarter worth $718,000. Institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of LMND opened at $23.77 on Friday. The business has a 50-day moving average of $18.00 and a 200-day moving average of $17.63. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -8.00 and a beta of 1.77. Lemonade has a 1 year low of $10.64 and a 1 year high of $25.40.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The firm had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the previous year, the company earned ($0.88) EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lemonade will post -3.04 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LMND shares. Jefferies Financial Group reduced their price objective on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. JMP Securities restated a “market outperform” rating and set a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.17.

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.