Lemonade Sees Unusually High Options Volume (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) was the target of some unusual options trading activity on Monday. Investors purchased 14,923 put options on the company. This represents an increase of approximately 86% compared to the average daily volume of 8,017 put options.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler raised their price target on shares of Lemonade from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Jefferies Financial Group raised their price target on shares of Lemonade from $14.00 to $16.00 and gave the company an “underperform” rating in a report on Tuesday, May 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Lemonade currently has an average rating of “Hold” and a consensus price target of $18.86.

Lemonade Stock Performance

Shares of LMND stock traded down $0.68 during mid-day trading on Monday, reaching $15.96. 910,300 shares of the company were exchanged, compared to its average volume of 1,716,570. Lemonade has a fifty-two week low of $10.27 and a fifty-two week high of $24.55. The company has a market capitalization of $1.13 billion, a P/E ratio of -5.32 and a beta of 1.78. The business’s 50 day simple moving average is $17.93 and its 200 day simple moving average is $17.27.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.07. The firm had revenue of $122.00 million during the quarter, compared to the consensus estimate of $121.77 million. Lemonade had a negative net margin of 44.24% and a negative return on equity of 30.34%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.97) earnings per share. On average, analysts forecast that Lemonade will post -2.96 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently added to or reduced their stakes in LMND. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Lemonade by 1.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,831 shares of the company’s stock valued at $1,675,000 after acquiring an additional 1,123 shares during the period. Van ECK Associates Corp raised its stake in shares of Lemonade by 12.1% during the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Lemonade by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after purchasing an additional 2,196 shares in the last quarter. WMG Financial Advisors LLC raised its stake in shares of Lemonade by 16.8% during the fourth quarter. WMG Financial Advisors LLC now owns 18,450 shares of the company’s stock valued at $298,000 after purchasing an additional 2,650 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Lemonade by 18.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock valued at $283,000 after purchasing an additional 2,710 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Lemonade Company 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.