Lemonade (NYSE:LMND) Price Target Lowered to $14.00 at Jefferies Financial Group

Lemonade (NYSE:LMND) had its price objective decreased by Jefferies Financial Group from $15.00 to $14.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Jefferies Financial Group currently has an underperform rating on the stock.

Lemonade Trading Up 3.9 %

Shares of LMND opened at $16.35 on Wednesday. Lemonade has a 12-month low of $10.27 and a 12-month high of $24.55. The firm has a market capitalization of $1.15 billion, a P/E ratio of -5.22 and a beta of 1.77. The firm has a 50-day moving average price of $17.27 and a 200 day moving average price of $17.40.

Lemonade (NYSE:LMND) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.81) earnings per share 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 analysts’ expectations of $121.77 million. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.97) EPS. Equities research analysts predict that Lemonade will post -3.03 earnings per share for the current fiscal year.

Insider Transactions at Lemonade

In related news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Lemonade

Hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in Lemonade during the second quarter worth $14,181,000. General Equity Holdings LP purchased a new stake in shares of Lemonade in the 2nd quarter valued at $5,198,000. GSA Capital Partners LLP acquired a new position in Lemonade during the 1st quarter worth about $3,100,000. Millennium Management LLC lifted its stake in Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock worth $2,734,000 after acquiring an additional 131,784 shares in the last quarter. Finally, Caxton Associates LP purchased a new position in Lemonade during the 2nd quarter valued at about $737,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.