Lemonade (NYSE:LMND) Stock Rating Lowered by Keefe, Bruyette & Woods

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

Several other research firms have also recently commented on LMND. Piper Sandler raised their price target on Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Jefferies Financial Group reduced their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research note on Wednesday, October 9th. Finally, JMP Securities restated a “market outperform” rating and set a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.83.

Lemonade Price Performance

Shares of LMND opened at $28.44 on Thursday. Lemonade has a 1 year low of $13.72 and a 1 year high of $29.41. The company’s fifty day moving average is $18.95 and its two-hundred day moving average is $18.07.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analyst estimates of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business’s revenue 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, sell-side analysts predict that Lemonade will post -3.05 earnings per share for the current year.

Insider Activity

In related news, CFO Timothy E. Bixby sold 2,050 shares of Lemonade stock in a transaction dated 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 owns 271,552 shares in the company, valued at approximately $4,953,108.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Marshall Wace LLP purchased a new position in shares of Lemonade in the 2nd quarter worth about $14,181,000. General Equity Holdings LP acquired a new position in shares of Lemonade in the second quarter worth about $5,198,000. Millennium Management LLC boosted its stake in shares of Lemonade by 388.7% during the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after buying an additional 131,784 shares during the last quarter. Landscape Capital Management L.L.C. boosted its stake in Lemonade by 17.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after acquiring an additional 48,260 shares during the last quarter. Finally, Caxton Associates LP acquired a new position in Lemonade in the second quarter worth about $737,000. Hedge funds and other institutional investors 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.