17,573 Shares in Root, Inc. $ROOT Acquired by BloombergSen Inc.

BloombergSen Inc. acquired a new stake in shares of Root, Inc. (NASDAQ:ROOT) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 17,573 shares of the company’s stock, valued at approximately $1,269,000. Root comprises 0.1% of BloombergSen Inc.’s holdings, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the business. New York State Common Retirement Fund increased its holdings in Root by 950.0% in the 3rd quarter. New York State Common Retirement Fund now owns 36,750 shares of the company’s stock worth $3,289,000 after acquiring an additional 33,250 shares in the last quarter. Vanguard Group Inc. increased its holdings in Root by 25.9% in the 3rd quarter. Vanguard Group Inc. now owns 724,541 shares of the company’s stock worth $64,854,000 after acquiring an additional 149,064 shares in the last quarter. Proem Advisors LLC acquired a new position in shares of Root during the 3rd quarter valued at about $3,279,000. Palisades Investment Partners LLC acquired a new position in shares of Root during the 3rd quarter valued at about $7,314,000. Finally, Quinn Opportunity Partners LLC acquired a new position in shares of Root during the 3rd quarter valued at about $3,580,000. 59.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. UBS Group set a $50.00 price target on shares of Root and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Root from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. Zacks Research lowered shares of Root from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Root from $52.00 to $58.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Root presently has a consensus rating of “Hold” and an average price target of $93.20.

Root Trading Down 0.8%

Root stock opened at $57.38 on Friday. The stock has a market cap of $908.33 million, a PE ratio of 17.18 and a beta of 2.95. The stock has a 50-day moving average price of $50.52 and a 200 day moving average price of $63.24. Root, Inc. has a 52 week low of $40.91 and a 52 week high of $162.99. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $1.25. The firm had revenue of $393.50 million during the quarter, compared to analysts’ expectations of $398.16 million. Root had a return on equity of 19.97% and a net margin of 3.58%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. Equities research analysts predict that Root, Inc. will post 2.15 earnings per share for the current fiscal year.

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.