Hillsdale Investment Management Inc. Invests $5.89 Million in Lemonade, Inc. $LMND

Key Points

• Hillsdale Investment Management opened a new position in Lemonade during the fourth quarter, buying 82,800 shares valued at about $5.89 million. The stake represented roughly 0.11% of the company.
• Other institutions also increased their holdings, and 80.3% of Lemonade’s stock is now owned by institutional investors and hedge funds. Insider selling was modest in the latest quarter, with insiders selling 5,567 shares total.
• Lemonade’s latest quarter showed better-than-expected results, with EPS of -$0.47 versus estimates of -$0.58 and revenue of $258 million, up 70.6% year over year. Analysts currently rate the stock a consensus Hold with an average target price of $64.89.

Hillsdale Investment Management Inc. bought a new position in shares of Lemonade, Inc. (NYSE:LMND - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 82,800 shares of the company's stock, valued at approximately $5,894,000. Hillsdale Investment Management Inc. owned 0.11% of Lemonade at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. TD Waterhouse Canada Inc. grew its position in shares of Lemonade by 3.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,671 shares of the company's stock worth $261,000 after buying an additional 121 shares during the period. Watershed Private Wealth LLC grew its position in shares of Lemonade by 1.7% during the 4th quarter. Watershed Private Wealth LLC now owns 8,310 shares of the company's stock worth $592,000 after buying an additional 140 shares during the period. Titleist Asset Management LLC grew its position in shares of Lemonade by 4.1% during the 3rd quarter. Titleist Asset Management LLC now owns 4,832 shares of the company's stock worth $259,000 after buying an additional 189 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Lemonade by 2.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,431 shares of the company's stock worth $600,000 after buying an additional 219 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Lemonade by 7.2% during the 4th quarter. GAMMA Investing LLC now owns 3,529 shares of the company's stock worth $251,000 after buying an additional 236 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LMND has been the subject of several analyst reports. Wolfe Research set a $44.00 target price on Lemonade in a research report on Tuesday, February 24th. Piper Sandler cut their price objective on Lemonade from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Thursday, April 30th. Morgan Stanley cut their price objective on Lemonade from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, May 21st. Truist Financial cut their price objective on Lemonade from $98.00 to $70.00 and set a "buy" rating on the stock in a report on Wednesday, April 29th. Finally, Citizens Jmp cut their price objective on Lemonade from $85.00 to $80.00 and set a "market outperform" rating on the stock in a report on Thursday, April 30th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $64.89.

Lemonade Price Performance

NYSE:LMND opened at $57.93 on Friday. Lemonade, Inc. has a fifty-two week low of $31.60 and a fifty-two week high of $99.90. The stock has a market capitalization of $4.45 billion, a PE ratio of -30.98 and a beta of 1.85. The business's 50-day simple moving average is $60.14 and its 200-day simple moving average is $68.14.

Lemonade (NYSE:LMND - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.11. Lemonade had a negative return on equity of 26.52% and a negative net margin of 16.44%.The business had revenue of $258.00 million for the quarter, compared to analysts' expectations of $251.51 million. During the same quarter in the previous year, the business posted ($0.86) EPS. Lemonade's revenue for the quarter was up 70.6% on a year-over-year basis. On average, research analysts expect that Lemonade, Inc. will post -1.69 earnings per share for the current year.

Insider Buying and Selling

In other Lemonade news, insider John Sheldon Peters sold 3,571 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $52.50, for a total value of $187,477.50. Following the sale, the insider owned 76,729 shares in the company, valued at approximately $4,028,272.50. The trade was a 4.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 5,567 shares of company stock valued at $287,517. Insiders own 14.70% of the company's stock.

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.

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