Root, Inc. $ROOT is Findell Capital Management LLC’s 3rd Largest Position

Findell Capital Management LLC increased its position in Root, Inc. (NASDAQ:ROOT) by 291.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,000 shares of the company’s stock after acquiring an additional 175,000 shares during the period. Root makes up about 4.9% of Findell Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Findell Capital Management LLC owned about 1.52% of Root worth $16,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake 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 during the last quarter. Quinn Opportunity Partners LLC purchased a new position in Root in the 3rd quarter worth $3,580,000. SG Americas Securities LLC raised its stake in Root by 1,254.2% in the 4th quarter. SG Americas Securities LLC now owns 30,159 shares of the company’s stock worth $2,178,000 after acquiring an additional 27,932 shares during the last quarter. Quantbot Technologies LP purchased a new position in Root in the 3rd quarter worth $1,286,000. Finally, Prosperitas Financial LLC purchased a new position in Root in the 4th quarter worth $1,594,000. Hedge funds and other institutional investors own 59.82% of the company’s stock.

Root Stock Performance

NASDAQ ROOT opened at $48.50 on Thursday. The stock has a 50-day simple moving average of $53.92 and a two-hundred day simple moving average of $59.81. The firm has a market capitalization of $767.76 million, a P/E ratio of 14.52 and a beta of 2.87. Root, Inc. has a fifty-two week low of $40.91 and a fifty-two week high of $141.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.07 and a current ratio of 1.07.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings lowered Root from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. Wells Fargo & Company lifted their price objective on Root from $52.00 to $58.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Keefe, Bruyette & Woods reduced their price objective on Root from $104.00 to $95.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Wall Street Zen upgraded Root from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $93.20.

Root Company 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.