Root, Inc. (NASDAQ:ROOT) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Root, Inc. (NASDAQ:ROOT) by 27.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,628 shares of the company’s stock after purchasing an additional 3,169 shares during the quarter. Rhumbline Advisers owned 0.10% of Root worth $1,062,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Root by 0.3% during the third quarter. State Street Corp now owns 176,891 shares of the company’s stock worth $6,683,000 after purchasing an additional 444 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Root during the third quarter worth $33,000. Verition Fund Management LLC raised its holdings in Root by 15.2% during the third quarter. Verition Fund Management LLC now owns 9,788 shares of the company’s stock worth $370,000 after purchasing an additional 1,288 shares during the last quarter. Nordea Investment Management AB raised its holdings in Root by 7.3% during the fourth quarter. Nordea Investment Management AB now owns 20,697 shares of the company’s stock worth $1,497,000 after purchasing an additional 1,416 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company’s stock worth $194,000 after purchasing an additional 2,889 shares during the last quarter. 59.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ROOT shares. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a report on Sunday. Citizens Jmp cut Root from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Wells Fargo & Company reissued a “buy” rating on shares of Root in a report on Sunday. Finally, JMP Securities cut Root from an “outperform” rating to a “market perform” rating in a report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.83.

Root Price Performance

Shares of NASDAQ:ROOT opened at $142.75 on Thursday. The company has a market cap of $2.16 billion, a P/E ratio of -116.06 and a beta of 2.58. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $145.34. The business has a fifty day simple moving average of $97.89 and a 200-day simple moving average of $73.19.

Root (NASDAQ:ROOT) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $1.93. The business had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. Equities research analysts forecast that Root, Inc. will post -0.08 EPS for the current year.

Root Company 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.