Connor Clark & Lunn Investment Management Ltd. Buys 27,265 Shares of Lemonade, Inc. (NYSE:LMND)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Lemonade, Inc. (NYSE:LMND) by 99.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,762 shares of the company’s stock after acquiring an additional 27,265 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Lemonade worth $903,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of Lemonade in the 2nd quarter valued at about $14,181,000. General Equity Holdings LP bought a new position in shares of Lemonade in the 2nd quarter valued at about $5,198,000. GSA Capital Partners LLP boosted its stake in shares of Lemonade by 31.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,916 shares of the company’s stock valued at $2,983,000 after purchasing an additional 42,822 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Lemonade by 388.7% in the 2nd quarter. Millennium Management LLC now owns 165,689 shares of the company’s stock valued at $2,734,000 after purchasing an additional 131,784 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Lemonade by 12.7% in the 2nd quarter. American Century Companies Inc. now owns 86,757 shares of the company’s stock valued at $1,431,000 after purchasing an additional 9,793 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Insider Activity

In related news, CFO Timothy E. Bixby sold 2,050 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.24, for a total value of $37,392.00. Following the completion of the transaction, the chief financial officer now 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 through this link. Also, insider Maya Prosor sold 20,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.00, for a total value of $600,000.00. Following the completion of the transaction, the insider now directly owns 59,286 shares of the company’s stock, valued at approximately $1,778,580. This trade represents a 25.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,892 shares of company stock valued at $5,283,045. 12.50% of the stock is owned by company insiders.

Lemonade Stock Down 1.5 %

NYSE LMND opened at $49.16 on Thursday. Lemonade, Inc. has a 12-month low of $14.03 and a 12-month high of $53.85. The company has a market capitalization of $3.51 billion, a PE ratio of -16.17 and a beta of 1.68. The firm’s 50 day moving average is $24.89 and its 200-day moving average is $20.22.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, sell-side analysts expect that Lemonade, Inc. will post -3.05 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on LMND shares. Piper Sandler raised their target price on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday, November 21st. Morgan Stanley raised shares of Lemonade from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods lowered shares of Lemonade from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $18.00 to $21.00 in a research note on Thursday, November 7th. JMP Securities lifted their price objective on shares of Lemonade from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price objective on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.43.

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.