Connor Clark & Lunn Investment Management Ltd. Has $903,000 Position in Lemonade, Inc. (NYSE:LMND)

Connor Clark & Lunn Investment Management Ltd. increased its position in Lemonade, Inc. (NYSE:LMND) by 99.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 54,762 shares of the company’s stock after acquiring an additional 27,265 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Lemonade were worth $903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Axiom Advisory LLC increased its stake in shares of Lemonade by 1.6% in the third quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock valued at $897,000 after buying an additional 850 shares during the period. Blue Trust Inc. boosted its holdings in Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after acquiring an additional 1,879 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Lemonade by 12.1% in the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after acquiring an additional 1,915 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Lemonade by 9.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after acquiring an additional 2,196 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Lemonade by 9.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after acquiring an additional 2,582 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LMND shares. Piper Sandler upped their target price on Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, November 21st. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and upped their target price for the company from $18.00 to $21.00 in a report on Thursday, November 7th. Morgan Stanley upgraded Lemonade from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $23.00 to $42.00 in a report on Wednesday, November 20th. JMP Securities increased their price target on Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Lemonade currently has an average rating of “Hold” and an average target price of $30.43.

Insider Buying and Selling

In related news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Maya Prosor sold 20,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the sale, the insider now directly owns 59,286 shares of the company’s stock, valued at $1,778,580. The trade was a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,892 shares of company stock worth $5,283,045 in the last ninety days. Corporate insiders own 12.50% of the company’s stock.

Lemonade Stock Down 1.5 %

Shares of LMND opened at $49.16 on Thursday. Lemonade, Inc. has a 12-month low of $14.03 and a 12-month high of $53.85. The business’s fifty day moving average is $24.89 and its 200 day moving average is $20.22. The stock has a market cap of $3.51 billion, a P/E ratio of -16.17 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its 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 return on equity of 32.85% and a negative net margin of 43.51%. The company had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. During the same period last year, the business earned ($0.88) EPS. Lemonade’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts expect that Lemonade, Inc. will post -3.05 EPS for the current year.

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.