SG Americas Securities LLC Takes $61,000 Position in Root, Inc. (NASDAQ:ROOT)

SG Americas Securities LLC bought a new position in Root, Inc. (NASDAQ:ROOTGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 50,960 shares of the company’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Root in the second quarter worth approximately $38,000. Bank of America Corp DE raised its position in shares of Root by 311.5% during the 1st quarter. Bank of America Corp DE now owns 30,505 shares of the company’s stock valued at $60,000 after purchasing an additional 23,092 shares during the period. Walleye Capital LLC bought a new stake in shares of Root during the 1st quarter valued at $43,000. Royal Bank of Canada raised its position in shares of Root by 66.4% during the 1st quarter. Royal Bank of Canada now owns 28,294 shares of the company’s stock valued at $55,000 after purchasing an additional 11,294 shares during the period. Finally, California State Teachers Retirement System raised its position in shares of Root by 28.5% during the 1st quarter. California State Teachers Retirement System now owns 61,955 shares of the company’s stock valued at $122,000 after purchasing an additional 13,729 shares during the period.

Root Stock Performance

Shares of NASDAQ:ROOT opened at $7.33 on Friday. Root, Inc. has a 52 week low of $6.26 and a 52 week high of $86.40. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $8.39 and a two-hundred day simple moving average of $16.61. The stock has a market capitalization of $103.92 million, a P/E ratio of -0.31 and a beta of 0.55.

Root (NASDAQ:ROOTGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($4.54) EPS for the quarter, topping analysts’ consensus estimates of ($6.01) by $1.47. Root had a negative net margin of 102.25% and a negative return on equity of 78.93%. The firm had revenue of $73.70 million during the quarter, compared to analysts’ expectations of $75.74 million. On average, analysts expect that Root, Inc. will post -22.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ROOT has been the topic of a number of research reports. Morgan Stanley reduced their price target on shares of Root from $37.26 to $20.93 and set an “equal weight” rating on the stock in a report on Friday, August 19th. Barclays reduced their price target on shares of Root from $17.00 to $8.00 and set an “underweight” rating on the stock in a report on Friday, November 11th. Keefe, Bruyette & Woods initiated coverage on shares of Root in a report on Thursday. They issued a “market perform” rating on the stock. Wells Fargo & Company reduced their price target on shares of Root from $25.00 to $10.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 12th. Finally, Cantor Fitzgerald lifted their price target on shares of Root from $6.00 to $30.00 in a report on Friday, August 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $18.54.

Root Profile

(Get Rating)

Root, Inc provides insurance products and services in the United States. The company offers automobile, homeowners, and renters insurance products. The company operates a direct-to-consumer model and serves customers primarily through mobile applications, as well as through its website. Its direct distribution channels also cover digital, media, and referral channels, as well as distribution partners and agencies.

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Institutional Ownership by Quarter for Root (NASDAQ:ROOT)

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