Cadent Capital Advisors LLC Acquires Shares of 13,556 Lemonade, Inc. $LMND

Cadent Capital Advisors LLC bought a new position in Lemonade, Inc. (NYSE:LMND) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 13,556 shares of the company’s stock, valued at approximately $965,000.

A number of other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Lemonade by 107.3% during the first quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock valued at $958,000 after acquiring an additional 15,779 shares in the last quarter. Millennium Management LLC grew its stake in Lemonade by 255.2% in the first quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock worth $10,370,000 after purchasing an additional 237,044 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Lemonade during the 1st quarter worth $35,000. Goldman Sachs Group Inc. raised its position in Lemonade by 7.3% during 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 in the last quarter. Finally, Creative Planning raised its position in Lemonade by 74.1% during the 2nd quarter. Creative Planning now owns 16,135 shares of the company’s stock valued at $707,000 after purchasing an additional 6,867 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Lemonade Stock Down 1.4%

Lemonade stock opened at $66.20 on Friday. The firm has a market cap of $5.06 billion, a P/E ratio of -29.29 and a beta of 2.12. The business has a fifty day moving average of $67.54 and a two-hundred day moving average of $66.92. Lemonade, Inc. has a twelve month low of $24.31 and a twelve month high of $99.90.

Lemonade (NYSE:LMND) last announced its quarterly earnings results on Wednesday, February 18th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.12. Lemonade had a negative return on equity of 31.19% and a negative net margin of 22.43%.Lemonade’s revenue for the quarter was up 53.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.42) EPS. Equities analysts expect that Lemonade, Inc. will post -3.03 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on LMND. Citigroup reiterated an “outperform” rating on shares of Lemonade in a report on Friday, January 16th. Morgan Stanley upgraded Lemonade from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $85.00 in a report on Tuesday, March 17th. Truist Financial began coverage on shares of Lemonade in a research note on Tuesday, January 6th. They issued a “buy” rating and a $98.00 price objective for the company. Piper Sandler set a $65.00 target price on shares of Lemonade in a report on Thursday, February 19th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Lemonade from $40.00 to $44.00 and gave the stock an “underperform” rating in a report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $68.75.

Insider Transactions at Lemonade

In other Lemonade news, CEO Daniel A. Schreiber sold 9,108 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $99.04, for a total value of $902,056.32. Following the completion of the transaction, the chief executive officer directly owned 1,514,426 shares in the company, valued at approximately $149,988,751.04. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Sheldon Peters sold 3,571 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $52.50, for a total transaction of $187,477.50. Following the sale, the insider directly owned 76,729 shares of the company’s stock, valued at approximately $4,028,272.50. The trade was a 4.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,300 shares of company stock worth $14,796,026. 14.70% of the stock is owned by corporate insiders.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.