Lemonade Target of Unusually Large Options Trading (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) was the recipient of some unusual options trading on Monday. Stock traders acquired 11,141 call options on the stock. This is an increase of approximately 97% compared to the typical daily volume of 5,666 call options.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LMND. Creative Planning purchased a new stake in shares of Lemonade in the 3rd quarter valued at about $128,000. The Manufacturers Life Insurance Company increased its position in Lemonade by 35.5% during the third quarter. The Manufacturers Life Insurance Company now owns 27,577 shares of the company’s stock worth $320,000 after buying an additional 7,222 shares during the period. Royal Bank of Canada lifted its stake in Lemonade by 145.7% in the third quarter. Royal Bank of Canada now owns 25,726 shares of the company’s stock valued at $299,000 after buying an additional 15,256 shares during the last quarter. Seven Eight Capital LP acquired a new stake in shares of Lemonade in the third quarter valued at approximately $704,000. Finally, Legal & General Group Plc grew its position in shares of Lemonade by 31.5% during the third quarter. Legal & General Group Plc now owns 530,093 shares of the company’s stock worth $6,160,000 after acquiring an additional 127,075 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LMND. Morgan Stanley boosted their price target on Lemonade from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Thursday, November 2nd. Jefferies Financial Group lowered their target price on Lemonade from $14.00 to $10.00 in a report on Friday, October 6th. BMO Capital Markets raised their price target on Lemonade from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Thursday, September 28th. Finally, Piper Sandler lowered their price objective on shares of Lemonade from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $12.67.

Lemonade Stock Performance

Shares of Lemonade stock opened at $16.92 on Tuesday. The business has a 50-day simple moving average of $12.96 and a 200-day simple moving average of $15.73. Lemonade has a one year low of $10.27 and a one year high of $24.81. The company has a market cap of $1.18 billion, a PE ratio of -4.54 and a beta of 1.59.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Wednesday, November 1st. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $0.05. The business had revenue of $114.50 million during the quarter, compared to analysts’ expectations of $104.52 million. Lemonade had a negative net margin of 64.12% and a negative return on equity of 32.41%. The company’s revenue for the quarter was up 54.7% on a year-over-year basis. During the same period in the previous year, the company earned ($1.37) EPS. On average, sell-side analysts predict that Lemonade will post -3.56 earnings per share for the current fiscal year.

About Lemonade

Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, car, pet, and life insurance products, as well as landlord insurance policies.