Prosperitas Financial LLC Invests $1.59 Million in Root, Inc. $ROOT

Prosperitas Financial LLC bought a new position in Root, Inc. (NASDAQ:ROOT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 22,066 shares of the company’s stock, valued at approximately $1,594,000. Prosperitas Financial LLC owned 0.14% of Root as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. raised its holdings in Root by 181.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,728 shares of the company’s stock valued at $197,000 after acquiring an additional 1,760 shares during the period. Hussman Strategic Advisors Inc. bought a new stake in Root during the fourth quarter valued at about $758,000. State of Alaska Department of Revenue raised its holdings in Root by 1,155.8% during the fourth quarter. State of Alaska Department of Revenue now owns 7,045 shares of the company’s stock valued at $508,000 after acquiring an additional 6,484 shares during the period. Palisades Investment Partners LLC raised its holdings in Root by 1.9% during the fourth quarter. Palisades Investment Partners LLC now owns 83,302 shares of the company’s stock valued at $6,017,000 after acquiring an additional 1,586 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Root by 1,254.2% during the fourth quarter. SG Americas Securities LLC now owns 30,159 shares of the company’s stock valued at $2,178,000 after acquiring an additional 27,932 shares during the period. 59.82% of the stock is owned by institutional investors.

Root Stock Up 0.4%

ROOT opened at $56.63 on Tuesday. The firm has a 50-day simple moving average of $48.83 and a two-hundred day simple moving average of $64.50. Root, Inc. has a 52 week low of $40.91 and a 52 week high of $162.99. The company has a market capitalization of $880.88 million, a PE ratio of 16.96 and a beta of 2.95. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.61.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $0.84 by $1.25. Root had a net margin of 3.58% and a return on equity of 19.97%. The business had revenue of $393.50 million during the quarter, compared to the consensus estimate of $398.16 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s revenue was up 12.5% on a year-over-year basis. Analysts forecast that Root, Inc. will post 2.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROOT has been the topic of a number of recent analyst reports. Weiss Ratings raised Root from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, February 26th. UBS Group set a $50.00 price target on Root and gave the company a “neutral” rating in a report on Monday. Wells Fargo & Company raised their price target on Root from $52.00 to $58.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Zacks Research cut Root from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Root from $104.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $93.20.

Root Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.