Lemonade (NYSE:LMND) Downgraded by Keefe, Bruyette & Woods to “Underperform”

Keefe, Bruyette & Woods lowered shares of Lemonade (NYSE:LMND) from a market perform rating to an underperform rating in a research note published on Thursday morning, Marketbeat reports. The firm currently has $21.00 target price on the stock, up from their previous target price of $18.00.

Several other equities analysts also recently commented on the company. Jefferies Financial Group decreased their target price on Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a report on Tuesday, October 15th. Finally, Piper Sandler boosted their target price on shares of Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.83.

Lemonade Stock Up 2.6 %

Shares of NYSE LMND traded up $0.72 during midday trading on Thursday, hitting $28.05. 1,647,684 shares of the company’s stock were exchanged, compared to its average volume of 1,632,723. The firm has a market capitalization of $2.00 billion, a PE ratio of -9.34 and a beta of 1.68. Lemonade has a 12 month low of $13.72 and a 12 month high of $29.41. The company’s 50 day moving average price is $18.75 and its 200 day moving average price is $17.98.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The firm had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) earnings per share. On average, equities research analysts anticipate that Lemonade will post -3 EPS for the current year.

Insider Transactions at Lemonade

In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the sale, the chief financial officer now directly owns 271,552 shares in the company, valued at $4,953,108.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMND. Marshall Wace LLP bought a new position in Lemonade in the second quarter valued at about $14,181,000. General Equity Holdings LP acquired a new stake in Lemonade during the 2nd quarter worth approximately $5,198,000. GSA Capital Partners LLP grew its holdings in Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after acquiring an additional 42,822 shares during the last quarter. Millennium Management LLC increased its position in Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after acquiring an additional 131,784 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lemonade by 8.8% during 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 last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

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.