Lemonade (NYSE:LMND) Downgraded by Keefe, Bruyette & Woods to Underperform

Keefe, Bruyette & Woods lowered shares of Lemonade (NYSE:LMND) from a market perform rating to an underperform rating in a research report report published on Thursday, MarketBeat reports. They currently have $21.00 price objective on the stock, up from their previous price objective of $18.00.

A number of other research analysts also recently issued reports on the stock. Piper Sandler boosted their target price on shares of Lemonade from $18.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Jefferies Financial Group cut their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 target price on shares of Lemonade in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $21.83.

Lemonade Stock Performance

Shares of LMND stock traded up $0.72 during mid-day trading on Thursday, hitting $28.05. The company’s stock had a trading volume of 1,647,684 shares, compared to its average volume of 1,632,723. The company has a market cap of $2.00 billion, a PE ratio of -9.34 and a beta of 1.68. The company’s fifty day simple moving average is $18.75 and its 200-day simple moving average is $17.98. Lemonade has a 52 week low of $13.72 and a 52 week high of $29.41.

Lemonade (NYSE:LMND) last released its earnings results on Wednesday, October 30th. The company reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.07. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The business had revenue of $136.60 million during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter last year, the firm posted ($0.88) earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. On average, equities analysts anticipate that Lemonade will post -3 earnings per share for the current year.

Insider Buying and Selling

In other Lemonade 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 transaction, the chief financial officer now owns 271,552 shares in the company, valued at approximately $4,953,108.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lemonade

A number of hedge funds have recently bought and sold shares of LMND. Quest Partners LLC lifted its position in shares of Lemonade by 1,647.6% during the third quarter. Quest Partners LLC now owns 9,105 shares of the company’s stock valued at $150,000 after purchasing an additional 8,584 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Lemonade by 31.0% during the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock worth $2,983,000 after buying an additional 42,822 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in shares of Lemonade in the 3rd quarter worth approximately $218,000. International Assets Investment Management LLC grew its holdings in shares of Lemonade by 1,549.0% in the third quarter. International Assets Investment Management LLC now owns 19,673 shares of the company’s stock valued at $324,000 after acquiring an additional 18,480 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Lemonade by 220.0% during the third quarter. Blue Trust Inc. now owns 2,733 shares of the company’s stock valued at $45,000 after acquiring an additional 1,879 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

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.