Y Intercept Hong Kong Ltd Takes Position in Lemonade, Inc. $LMND

Y Intercept Hong Kong Ltd acquired a new stake in Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,360 shares of the company’s stock, valued at approximately $1,155,000.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Lemonade by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 6,138,444 shares of the company’s stock valued at $192,931,000 after purchasing an additional 794,952 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Lemonade by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock valued at $19,244,000 after purchasing an additional 41,759 shares during the last quarter. Halter Ferguson Financial Inc. lifted its stake in shares of Lemonade by 62.8% in the 1st quarter. Halter Ferguson Financial Inc. now owns 476,764 shares of the company’s stock valued at $14,985,000 after purchasing an additional 183,974 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Lemonade by 255.2% in the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after purchasing an additional 237,044 shares during the last quarter. Finally, PDT Partners LLC lifted its stake in shares of Lemonade by 61.6% in the 1st quarter. PDT Partners LLC now owns 191,621 shares of the company’s stock valued at $6,023,000 after purchasing an additional 73,030 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered their price objective on Lemonade from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, October 10th. Morgan Stanley raised their price target on Lemonade from $43.00 to $45.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 7th. Cantor Fitzgerald raised Lemonade to a “strong-buy” rating in a research note on Wednesday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lemonade in a research note on Wednesday, October 8th. Finally, BMO Capital Markets raised their price target on Lemonade from $23.00 to $42.00 and gave the stock an “underperform” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $48.00.

Insider Buying and Selling

In other Lemonade news, insider John Sheldon Peters sold 2,718 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $50.34, for a total transaction of $136,824.12. Following the transaction, the insider directly owned 102,397 shares in the company, valued at $5,154,664.98. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.50% of the stock is owned by insiders.

Lemonade Stock Up 2.6%

LMND opened at $61.67 on Tuesday. The stock’s fifty day moving average is $53.74 and its two-hundred day moving average is $44.41. The company has a market capitalization of $4.56 billion, a P/E ratio of -21.79 and a beta of 2.26. Lemonade, Inc. has a 52 week low of $23.50 and a 52 week high of $63.48.

Lemonade (NYSE:LMND) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.21. The company had revenue of $164.10 million for the quarter, compared to the consensus estimate of $160.88 million. Lemonade had a negative return on equity of 36.12% and a negative net margin of 33.96%.Lemonade’s quarterly revenue was up 34.5% on a year-over-year basis. During the same period last year, the business posted ($0.81) EPS. Equities analysts anticipate that Lemonade, Inc. will post -3.03 earnings per share for the current year.

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.