Man Group plc Makes New Investment in Lemonade, Inc. $LMND

Man Group plc bought a new stake in Lemonade, Inc. (NYSE:LMND) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 136,257 shares of the company’s stock, valued at approximately $8,864,000.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in shares of Lemonade by 0.7% in the fourth quarter. AQR Capital Management LLC now owns 21,569 shares of the company’s stock valued at $1,535,000 after buying an additional 159 shares during the period. The Manufacturers Life Insurance Company boosted its position in Lemonade by 0.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 32,431 shares of the company’s stock worth $2,308,000 after buying an additional 259 shares during the period. CWM LLC boosted its position in Lemonade by 14.5% during the 4th quarter. CWM LLC now owns 2,882 shares of the company’s stock worth $205,000 after buying an additional 364 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Lemonade by 8,080.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 409 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Lemonade by 58.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,182 shares of the company’s stock worth $84,000 after acquiring an additional 436 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Lemonade Trading Down 1.5%

Shares of LMND opened at $53.11 on Friday. The firm’s fifty day simple moving average is $59.44 and its two-hundred day simple moving average is $59.23. Lemonade, Inc. has a 12 month low of $46.16 and a 12 month high of $99.90. The stock has a market capitalization of $4.11 billion, a P/E ratio of -29.02 and a beta of 1.84.

Lemonade (NYSE:LMND) last posted its quarterly earnings data on Tuesday, July 28th. The company reported ($0.56) earnings per share for the quarter, hitting the consensus estimate of ($0.56). The firm had revenue of $294.40 million during the quarter, compared to analyst estimates of $291.01 million. Lemonade had a negative return on equity of 26.78% and a negative net margin of 14.19%.The business’s quarterly revenue was up 79.4% on a year-over-year basis. During the same period last year, the company posted ($0.60) EPS. As a group, research analysts predict that Lemonade, Inc. will post -1.85 EPS for the current fiscal year.

Insider Activity at Lemonade

In other Lemonade news, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $53.17, for a total value of $64,867.40. Following the transaction, the insider directly owned 187,573 shares of the company’s stock, valued at approximately $9,973,256.41. The trade was a 0.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider John Sheldon Peters sold 11,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $52.55, for a total value of $578,050.00. Following the transaction, the insider owned 76,942 shares in the company, valued at $4,043,302.10. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,007 shares of company stock valued at $1,198,251 in the last ninety days. 12.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Lemonade from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Morgan Stanley decreased their price target on Lemonade from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. TD Cowen restated a “hold” rating on shares of Lemonade in a research report on Monday, June 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Lemonade in a research note on Tuesday, May 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lemonade in a report on Friday, July 17th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lemonade has an average rating of “Hold” and a consensus target price of $64.50.

About Lemonade

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.