Investors Purchase Large Volume of Lemonade Put Options (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) saw unusually large options trading activity on Friday. Investors acquired 16,559 put options on the company. This represents an increase of 74% compared to the average daily volume of 9,496 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a research note on Thursday. JMP Securities increased their price target on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Friday. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $23.00 to $42.00 in a research report on Wednesday. Jefferies Financial Group cut their price target on Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lemonade has a consensus rating of “Hold” and a consensus price target of $30.43.

Insider Buying and Selling

In other news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the completion of the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at $4,953,108.48. The trade was a 0.75 % 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. Also, insider Maya Prosor sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.00, for a total transaction of $600,000.00. Following the completion of the sale, the insider now owns 59,286 shares in the company, valued at $1,778,580. This represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 102,892 shares of company stock worth $3,783,045 in the last three months. Insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Axiom Advisory LLC grew its stake in Lemonade by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 54,400 shares of the company’s stock worth $897,000 after acquiring an additional 850 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Lemonade by 220.0% in the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after purchasing an additional 1,879 shares during the period. Van ECK Associates Corp grew its stake in Lemonade by 12.1% in the second quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock worth $293,000 after purchasing an additional 1,915 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Lemonade by 9.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock worth $404,000 after purchasing an additional 2,196 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Lemonade by 9.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $482,000 after purchasing an additional 2,582 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Lemonade Stock Up 0.8 %

NYSE LMND traded up $0.38 during trading hours on Friday, hitting $50.74. 2,185,526 shares of the company were exchanged, compared to its average volume of 1,759,367. The stock has a market cap of $3.62 billion, a PE ratio of -16.57 and a beta of 1.68. Lemonade has a 52 week low of $14.03 and a 52 week high of $52.22. The stock has a 50-day moving average price of $22.36 and a 200 day moving average price of $19.29.

Lemonade (NYSE:LMND) last announced its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.07. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The business had revenue of $136.60 million for the quarter, compared to the consensus estimate of $129.10 million. During the same quarter in the prior year, the firm posted ($0.88) earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lemonade will post -3.05 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.