Lemonade (NYSE:LMND) Shares Gap Down – Should You Sell?

Lemonade, Inc. (NYSE:LMND)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $16.69, but opened at $16.22. Lemonade shares last traded at $16.17, with a volume of 246,441 shares traded.

Lemonade Stock Up 0.4 %

The business has a 50-day moving average of $17.27 and a 200-day moving average of $17.40. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -5.02 and a beta of 1.77.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating 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 firm’s revenue was up 16.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.97) EPS. Equities analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Insider Buying and Selling at Lemonade

In other news, CFO Timothy E. Bixby sold 2,050 shares of the stock in a transaction that occurred 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Lemonade

A number of institutional investors and hedge funds have recently modified their holdings of the company. 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 acquiring an additional 9,107 shares during the period. Capstone Investment Advisors LLC bought a new position in shares of Lemonade during the 1st quarter worth approximately $214,000. GSA Capital Partners LLP bought a new position in shares of Lemonade during the 1st quarter worth approximately $3,100,000. Susquehanna Fundamental Investments LLC acquired a new stake in Lemonade in the 1st quarter valued at $477,000. Finally, Headlands Technologies LLC bought a new stake in Lemonade in the first quarter valued at $231,000. 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.