Ma Investment Partnership LP Takes $6.50 Million Position in Lemonade, Inc. $LMND

Ma Investment Partnership LP acquired a new stake in Lemonade, Inc. (NYSE:LMND) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 100,000 shares of the company’s stock, valued at approximately $6,505,000. Lemonade makes up 1.2% of Ma Investment Partnership LP’s holdings, making the stock its 11th biggest holding.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Lemonade by 107.3% during the 1st quarter. AQR Capital Management LLC now owns 30,490 shares of the company’s stock worth $958,000 after acquiring an additional 15,779 shares in the last quarter. Millennium Management LLC grew its position in Lemonade by 255.2% in the 1st quarter. Millennium Management LLC now owns 329,934 shares of the company’s stock valued at $10,370,000 after acquiring an additional 237,044 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Lemonade during the first quarter worth about $35,000. Goldman Sachs Group Inc. increased its stake in Lemonade by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 612,292 shares of the company’s stock worth $19,244,000 after purchasing an additional 41,759 shares during the period. Finally, Prudential Financial Inc. acquired a new stake in shares of Lemonade during the second quarter worth about $307,000. Institutional investors and hedge funds own 80.30% of the company’s stock.

Wall Street Analysts Forecast Growth

LMND has been the subject of several recent research reports. Keefe, Bruyette & Woods raised shares of Lemonade from an “underperform” rating to a “market perform” rating and set a $48.00 price objective for the company in a research note on Thursday, July 30th. Citizens Jmp reduced their price objective on shares of Lemonade from $85.00 to $80.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. Wall Street Zen lowered Lemonade from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Lemonade in a research report on Tuesday, May 26th. Finally, UBS Group set a $75.00 price objective on shares of Lemonade in a research note on Thursday, May 21st. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lemonade has an average rating of “Hold” and a consensus target price of $64.50.

Lemonade Trading Down 1.3%

LMND stock opened at $53.73 on Thursday. The company has a market capitalization of $4.16 billion, a P/E ratio of -29.36 and a beta of 1.84. Lemonade, Inc. has a twelve month low of $46.16 and a twelve month high of $99.90. The business has a 50 day simple moving average of $59.66 and a 200-day simple moving average of $59.41.

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

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 stock was sold at an average price of $52.55, for a total transaction of $578,050.00. Following the transaction, the insider owned 76,942 shares of the company’s stock, valued at $4,043,302.10. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Maya Prosor sold 1,220 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $53.17, for a total value of $64,867.40. Following the completion of the transaction, the insider owned 187,573 shares in the company, valued at $9,973,256.41. This trade represents a 0.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 21,007 shares of company stock worth $1,198,251. 12.20% of the stock is currently owned by company insiders.

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.