Traders Buy Large Volume of Lemonade Call Options (NYSE:LMND)

Lemonade, Inc. (NYSE:LMND) was the target of unusually large options trading activity on Monday. Stock investors bought 11,141 call options on the stock. This is an increase of approximately 97% compared to the average volume of 5,666 call options.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LMND. Morgan Stanley lifted their target price on Lemonade from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday, November 2nd. Piper Sandler decreased their price objective on shares of Lemonade from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, August 4th. BMO Capital Markets boosted their target price on shares of Lemonade from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Thursday, September 28th. Finally, Jefferies Financial Group reduced their price target on shares of Lemonade from $14.00 to $10.00 in a research report on Friday, October 6th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $12.67.

Institutional Investors Weigh In On Lemonade

Large investors have recently made changes to their positions in the company. Millennium Management LLC raised its stake in shares of Lemonade by 252.5% during the fourth quarter. Millennium Management LLC now owns 734,832 shares of the company’s stock valued at $10,053,000 after purchasing an additional 526,388 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lemonade by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 4,168,986 shares of the company’s stock worth $88,299,000 after buying an additional 467,059 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Lemonade in the 1st quarter worth approximately $11,925,000. Goldman Sachs Group Inc. boosted its holdings in shares of Lemonade by 98.8% in the second quarter. Goldman Sachs Group Inc. now owns 559,414 shares of the company’s stock valued at $9,426,000 after acquiring an additional 278,010 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Lemonade by 128.6% during the second quarter. Northern Trust Corp now owns 365,304 shares of the company’s stock valued at $6,671,000 after acquiring an additional 205,520 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Lemonade Price Performance

Shares of LMND opened at $16.92 on Tuesday. Lemonade has a 12 month low of $10.27 and a 12 month high of $24.81. The stock has a fifty day moving average price of $12.96 and a 200 day moving average price of $15.73. The company has a market cap of $1.18 billion, a P/E ratio of -4.54 and a beta of 1.59.

Lemonade (NYSE:LMND) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.05. Lemonade had a negative net margin of 64.12% and a negative return on equity of 32.41%. The business had revenue of $114.50 million during the quarter, compared to analyst estimates of $104.52 million. During the same quarter in the prior year, the firm earned ($1.37) earnings per share. The company’s quarterly revenue was up 54.7% on a year-over-year basis. As a group, research analysts anticipate that Lemonade will post -3.56 earnings per share for the current year.

Lemonade Company Profile

Lemonade, Inc provides various insurance products in the United States and Europe. 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. The company also offers renters, homeowners, car, pet, and life insurance products, as well as landlord insurance policies.