Algert Global LLC Trims Holdings in Lemonade, Inc. (NYSE:LMND)

Algert Global LLC trimmed its stake in Lemonade, Inc. (NYSE:LMND) by 18.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 67,783 shares of the company’s stock after selling 15,100 shares during the period. Algert Global LLC owned about 0.09% of Lemonade worth $1,118,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Wace LLP acquired a new position in shares of Lemonade in the second quarter valued at approximately $14,181,000. General Equity Holdings LP acquired a new position in shares of Lemonade in the second quarter valued at approximately $5,198,000. Millennium Management LLC grew its holdings in shares of Lemonade by 388.7% in the second 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 in the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Lemonade by 17.6% in the third quarter. Landscape Capital Management L.L.C. now owns 321,882 shares of the company’s stock valued at $5,308,000 after purchasing an additional 48,260 shares in the last quarter. Finally, Caxton Associates LP acquired a new position in shares of Lemonade in the second quarter valued at approximately $737,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Timothy E. Bixby sold 2,050 shares of the company’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 owns 271,552 shares in the company, valued at $4,953,108.48. This represents a 0.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Adina Eckstein sold 23,644 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $40.00, for a total transaction of $945,760.00. Following the completion of the sale, the chief operating officer now owns 189,653 shares of the company’s stock, valued at approximately $7,586,120. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,892 shares of company stock worth $5,283,045. Corporate insiders own 12.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on LMND. Keefe, Bruyette & Woods cut shares of 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 report on Thursday, November 7th. BMO Capital Markets lifted their price objective on shares of Lemonade from $13.00 to $15.00 and gave the company an “underperform” rating in a report on Thursday, November 21st. Morgan Stanley upgraded shares of Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a report on Wednesday, November 20th. JMP Securities lifted their price objective on shares of Lemonade from $40.00 to $60.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Lemonade currently has an average rating of “Hold” and a consensus target price of $30.43.

Lemonade Stock Down 1.5 %

NYSE LMND opened at $49.16 on Friday. Lemonade, Inc. has a 52 week low of $14.03 and a 52 week high of $53.85. The stock has a market capitalization of $3.51 billion, a PE ratio of -16.17 and a beta of 1.68. The firm has a 50 day moving average of $25.50 and a two-hundred day moving average of $20.42.

Lemonade (NYSE:LMND) last issued its earnings results on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $129.10 million. During the same quarter in the prior year, the business posted ($0.88) EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities research analysts expect that Lemonade, Inc. will post -3.05 earnings per share for the current fiscal 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.