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

Shares of Lemonade, Inc. (NYSE:LMND) have been given an average rating of “Reduce” by the eight ratings firms that are currently covering the company, MarketBeat reports. Three investment 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. The average 1-year target price among brokerages that have covered the stock in the last year is $18.86.

LMND has been the subject of a number of recent analyst reports. Jefferies Financial Group increased their target price on shares of Lemonade from $14.00 to $16.00 and gave the company an “underperform” rating in a research report on Tuesday, May 7th. JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research report on Monday, April 15th. Finally, Piper Sandler increased their target price on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd.

Lemonade Price Performance

Lemonade stock opened at $19.58 on Friday. The business has a 50 day moving average of $16.72 and a 200-day moving average of $16.77. Lemonade has a 1 year low of $10.27 and a 1 year high of $24.81. The company has a market capitalization of $1.38 billion, a P/E ratio of -6.26 and a beta of 1.78.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.14. Lemonade had a negative return on equity of 30.30% and a negative net margin of 48.14%. The company had revenue of $119.10 million during the quarter, compared to the consensus estimate of $114.13 million. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. The firm’s revenue was up 25.1% compared to the same quarter last year. Equities analysts anticipate that Lemonade will post -2.94 EPS for the current year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,077 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $16.03, for a total value of $33,294.31. Following the transaction, the chief financial officer now directly owns 273,602 shares in the company, valued at approximately $4,385,840.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Timothy E. Bixby sold 2,077 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $16.03, for a total value of $33,294.31. Following the transaction, the chief financial officer now directly owns 273,602 shares in the company, valued at approximately $4,385,840.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Timothy E. Bixby acquired 15,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were bought at an average price of $15.51 per share, for a total transaction of $232,650.00. Following the completion of the purchase, the chief financial officer now owns 25,000 shares in the company, valued at approximately $387,750. The disclosure for this purchase can be found here. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Several large investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its holdings in shares of Lemonade by 14.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 114,013 shares of the company’s stock worth $1,839,000 after buying an additional 14,745 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Lemonade by 32.2% in the 4th quarter. SG Americas Securities LLC now owns 42,634 shares of the company’s stock worth $688,000 after buying an additional 10,376 shares during the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Lemonade in the 4th quarter worth about $30,000. International Assets Investment Management LLC purchased a new position in shares of Lemonade in the 4th quarter worth about $310,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lemonade by 1.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,831 shares of the company’s stock worth $1,675,000 after buying an additional 1,123 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.