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

Lemonade, Inc. (NYSE:LMND - Get Free Report) was the recipient of unusually large options trading on Monday. Stock traders bought 14,918 call options on the company. This is an increase of approximately 69% compared to the typical volume of 8,850 call options.

Institutional Trading of Lemonade

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Lemonade by 56.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 25,960 shares of the company's stock valued at $685,000 after purchasing an additional 9,369 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Lemonade in the 1st quarter valued at about $25,000. BlackRock Inc. lifted its position in Lemonade by 3.4% during the first quarter. BlackRock Inc. now owns 1,517,589 shares of the company's stock worth $40,019,000 after acquiring an additional 50,278 shares during the last quarter. Allianz Asset Management GmbH acquired a new stake in Lemonade during the first quarter worth approximately $4,485,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Lemonade by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 196,482 shares of the company's stock valued at $5,182,000 after buying an additional 5,176 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Lemonade Stock Performance

Shares of LMND stock traded up $1.22 during mid-day trading on Monday, hitting $19.12. 1,720,028 shares of the stock traded hands, compared to its average volume of 1,475,530. Lemonade has a twelve month low of $10.27 and a twelve month high of $24.81. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -5.17 and a beta of 1.92. The company's 50-day simple moving average is $16.83 and its 200-day simple moving average is $15.11.

Wall Street Analyst Weigh In

Several research firms recently commented on LMND. Morgan Stanley increased their price objective on Lemonade from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Thursday, November 2nd. TD Cowen started coverage on Lemonade in a report on Wednesday, January 10th. They set a "market perform" rating and a $17.00 target price for the company. Finally, Oppenheimer reiterated a "market perform" rating on shares of Lemonade in a research note on Friday, December 1st. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $13.29.

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.

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