GSA Capital Partners LLP increased its holdings in Lemonade, Inc. (NYSE:LMND - Free Report) by 31.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,916 shares of the company's stock after acquiring an additional 42,822 shares during the period. GSA Capital Partners LLP owned about 0.25% of Lemonade worth $2,983,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in LMND. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Lemonade by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,938 shares of the company's stock worth $1,853,000 after acquiring an additional 9,107 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Lemonade during the 1st quarter valued at approximately $477,000. Headlands Technologies LLC bought a new position in shares of Lemonade during the 1st quarter valued at approximately $231,000. State Board of Administration of Florida Retirement System grew its position in shares of Lemonade by 18.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company's stock valued at $283,000 after acquiring an additional 2,710 shares during the period. Finally, HAP Trading LLC grew its position in shares of Lemonade by 106.1% during the 1st quarter. HAP Trading LLC now owns 24,315 shares of the company's stock valued at $399,000 after acquiring an additional 12,515 shares during the period. Institutional investors and hedge funds own 80.30% of the company's stock.
Insiders Place Their Bets
In other Lemonade news, CFO Timothy E. Bixby sold 2,050 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the sale, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.50% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on LMND. Keefe, Bruyette & Woods downgraded shares of Lemonade from a "market perform" rating to an "underperform" rating and increased their target price for the company from $18.00 to $21.00 in a research report on Thursday, November 7th. JMP Securities reiterated a "market outperform" rating and issued a $40.00 price objective on shares of Lemonade in a research note on Tuesday, October 15th. Piper Sandler lifted their price objective on shares of Lemonade from $18.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, 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. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.83.
Read Our Latest Stock Analysis on LMND
Lemonade Stock Down 5.8 %
Shares of NYSE LMND traded down $1.97 during mid-day trading on Tuesday, reaching $32.27. 2,464,089 shares of the company were exchanged, compared to its average volume of 1,658,020. Lemonade, Inc. has a 52 week low of $13.72 and a 52 week high of $34.95. The stock has a market capitalization of $2.30 billion, a PE ratio of -11.26 and a beta of 1.68. The company's 50 day moving average price is $19.26 and its 200 day moving average price is $18.19.
Lemonade (NYSE:LMND - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping the consensus estimate of ($1.02) by $0.07. The business had revenue of $136.60 million during the quarter, compared to the consensus estimate of $129.10 million. Lemonade had a negative net margin of 43.51% and a negative return on equity of 32.85%. The firm's revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.88) earnings per share. On average, sell-side analysts predict that Lemonade, Inc. will post -3.05 earnings per share for the current year.
About Lemonade
(
Free Report)
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.
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