Bank of New York Mellon Corp Sells 135,012 Shares of Lemonade, Inc. (NYSE:LMND)

Bank of New York Mellon Corp lowered its stake in Lemonade, Inc. (NYSE:LMND) by 41.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 191,037 shares of the company’s stock after selling 135,012 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of Lemonade worth $3,152,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Lemonade by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 459,824 shares of the company’s stock valued at $7,417,000 after buying an additional 6,809 shares in the last quarter. Halter Ferguson Financial Inc. purchased a new stake in Lemonade during the 4th quarter valued at about $6,429,000. GSA Capital Partners LLP purchased a new stake in shares of Lemonade in the first quarter worth about $3,100,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lemonade by 8.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company’s stock worth $1,853,000 after buying an additional 9,107 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in Lemonade in the 1st quarter worth about $718,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Lemonade Price Performance

Shares of Lemonade stock opened at $18.24 on Monday. Lemonade, Inc. has a 12 month low of $10.27 and a 12 month high of $24.55. The stock has a market capitalization of $1.29 billion, a P/E ratio of -5.83 and a beta of 1.78. The business has a 50 day simple moving average of $18.68 and a two-hundred day simple moving average of $17.34.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.07. The business had revenue of $122.00 million during 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 company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period last year, the business posted ($0.97) earnings per share. As a group, research analysts anticipate that Lemonade, Inc. will post -3.03 EPS for the current fiscal year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the firm’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 transaction, the chief financial officer now owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.50% of the company’s stock.

Lemonade 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.