Man Group plc Purchases New Position in Lemonade, Inc. $LMND

Man Group plc acquired a new stake in shares of Lemonade, Inc. (NYSE:LMND) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 136,257 shares of the company’s stock, valued at approximately $8,864,000. Man Group plc owned 0.18% of Lemonade as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its stake in shares of Lemonade by 52.1% in the first quarter. Bank of America Corp DE now owns 360,411 shares of the company’s stock valued at $22,591,000 after purchasing an additional 123,484 shares during the period. BlackRock Inc. bought a new position in shares of Lemonade in the second quarter worth $393,408,000. Vanguard Group Inc. grew its stake in shares of Lemonade by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,305,453 shares of the company’s stock worth $448,822,000 after purchasing an additional 26,312 shares in the last quarter. Lido Advisors LLC acquired a new position in shares of Lemonade during the first quarter valued at $1,318,000. Finally, Clear Street Group Inc. acquired a new position in shares of Lemonade during the fourth quarter valued at $2,448,000. Institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price target on shares of Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a report on Wednesday, August 19th. UBS Group set a $75.00 price target on shares of Lemonade in a report on Thursday, May 21st. Wall Street Zen lowered shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Keefe, Bruyette & Woods upgraded Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a research report on Thursday, July 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Lemonade in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $64.50.

Insiders Place Their Bets

In related news, insider John Sheldon Peters sold 11,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $52.55, for a total value of $578,050.00. Following the completion of the sale, the insider directly owned 76,942 shares in the company, valued at approximately $4,043,302.10. This trade represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Maya Prosor sold 1,220 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the sale, the insider directly owned 187,573 shares of the company’s stock, valued at $9,973,256.41. This represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 21,007 shares of company stock worth $1,198,251. 12.20% of the stock is owned by corporate insiders.

Lemonade Stock Performance

Shares of NYSE:LMND opened at $53.11 on Friday. Lemonade, Inc. has a twelve month low of $46.16 and a twelve month high of $99.90. The firm has a market cap of $4.11 billion, a PE ratio of -29.02 and a beta of 1.84. The business has a fifty day moving average of $59.44 and a 200-day moving average of $59.23.

Lemonade (NYSE:LMND) last issued its quarterly earnings results on Tuesday, July 28th. The company reported ($0.56) EPS for the quarter, hitting the consensus estimate of ($0.56). The company had revenue of $294.40 million during the quarter, compared to analysts’ expectations of $291.01 million. Lemonade had a negative net margin of 14.19% and a negative return on equity of 26.78%. Lemonade’s revenue was up 79.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.60) EPS. On average, analysts anticipate that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

Lemonade Company Profile

Lemonade, Inc (NYSE: LMND) is a New York–based technology-driven insurance carrier that leverages artificial intelligence and behavioral economics to streamline the purchase and management of policies. Founded in 2015, the company offers renters, homeowners, pet, term life and car insurance products tailored for digitally savvy consumers. By automating underwriting and claims processing through chatbots and machine learning, Lemonade aims to deliver a more transparent and user-friendly experience than traditional insurers.

The company’s product suite includes standalone policies for renters and homeowners, customizable pet insurance plans, and term life coverage with simple online applications.