Teacher Retirement System of Texas Takes $354,000 Position in Root, Inc. (NASDAQ:ROOT)

Teacher Retirement System of Texas acquired a new position in Root, Inc. (NASDAQ:ROOT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,874 shares of the company’s stock, valued at approximately $354,000.

Several other institutional investors have also added to or reduced their stakes in ROOT. Point72 DIFC Ltd bought a new position in Root during the 3rd quarter worth approximately $33,000. SBI Securities Co. Ltd. bought a new position in Root during the fourth quarter worth $154,000. MetLife Investment Management LLC lifted its holdings in Root by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock valued at $194,000 after buying an additional 2,889 shares during the period. FreeGulliver LLC acquired a new position in Root in the fourth quarter valued at $203,000. Finally, Wesbanco Bank Inc. bought a new stake in Root during the fourth quarter valued at $218,000. 59.82% of the stock is currently owned by institutional investors.

Root Stock Down 2.5 %

Shares of NASDAQ:ROOT opened at $133.44 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.39 and a current ratio of 1.39. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $181.14. The business’s 50 day simple moving average is $122.38 and its two-hundred day simple moving average is $86.64. The firm has a market cap of $2.03 billion, a P/E ratio of -108.49 and a beta of 2.48.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $1.93. The company had revenue of $326.70 million for the quarter, compared to analysts’ expectations of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. As a group, research analysts forecast that Root, Inc. will post -0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ROOT has been the subject of several research analyst reports. Scotiabank reissued a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group lifted their target price on Root from $67.00 to $130.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Root in a research note on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.33.

Insider Buying and Selling at Root

In related news, Director Doug Ulman sold 2,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the director now owns 6,201 shares in the company, valued at $1,085,175. This represents a 24.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.71% of the company’s stock.

Root Profile

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. It operates a direct-to-consumer model; and serves customers primarily through mobile applications, as well as through its website. The company's direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.