Root, Inc. $ROOT Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC increased its position in shares of Root, Inc. (NASDAQ:ROOT) by 754.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,537 shares of the company’s stock after purchasing an additional 18,134 shares during the quarter. Squarepoint Ops LLC owned 0.13% of Root worth $2,628,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc boosted its holdings in shares of Root by 32.6% in the 2nd quarter. TD Asset Management Inc now owns 16,214 shares of the company’s stock valued at $2,075,000 after buying an additional 3,982 shares during the period. Alberta Investment Management Corp acquired a new position in Root in the second quarter valued at approximately $1,497,000. Valmark Advisers Inc. grew its holdings in shares of Root by 50.7% during the second quarter. Valmark Advisers Inc. now owns 10,365 shares of the company’s stock valued at $1,326,000 after purchasing an additional 3,486 shares during the last quarter. IFC Advisors LLC bought a new position in shares of Root during the second quarter valued at approximately $3,791,000. Finally, Ensign Peak Advisors Inc acquired a new stake in shares of Root during the 2nd quarter worth approximately $33,829,000. Institutional investors own 59.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ROOT shares. Wall Street Zen downgraded Root from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Zacks Research lowered shares of Root from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 10th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Root in a report on Friday, November 7th. Wells Fargo & Company boosted their target price on shares of Root from $89.00 to $96.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Root in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Root has an average rating of “Hold” and a consensus target price of $125.80.

Root Stock Performance

ROOT stock opened at $76.17 on Thursday. The company has a 50-day simple moving average of $80.03 and a 200 day simple moving average of $100.42. The company has a market capitalization of $1.18 billion, a P/E ratio of 23.01 and a beta of 2.64. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.76. Root, Inc. has a fifty-two week low of $68.08 and a fifty-two week high of $181.14.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, November 5th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.08. Root had a net margin of 3.80% and a return on equity of 23.36%. The firm had revenue of $387.80 million for the quarter, compared to analysts’ expectations of $363.06 million. During the same quarter last year, the company earned $1.35 EPS. Root’s quarterly revenue was up 26.9% on a year-over-year basis. Sell-side analysts predict that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

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.