Jump Financial LLC Invests $234,000 in Root, Inc. (NASDAQ:ROOT)

Jump Financial LLC bought a new stake in shares of Root, Inc. (NASDAQ:ROOTFree Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,303 shares of the company’s stock, valued at approximately $234,000. Jump Financial LLC owned 0.15% of Root at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its position in shares of Root by 37.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,382 shares of the company’s stock valued at $360,000 after acquiring an additional 9,390 shares during the period. Citigroup Inc. grew its holdings in Root by 218,250.0% during the third quarter. Citigroup Inc. now owns 4,367 shares of the company’s stock valued at $42,000 after purchasing an additional 4,365 shares during the period. Cannell Capital LLC purchased a new stake in Root in the third quarter worth about $2,795,000. Corton Capital Inc. bought a new position in shares of Root in the third quarter worth about $120,000. Finally, Trexquant Investment LP purchased a new stake in Root in the 3rd quarter worth approximately $309,000. 59.82% of the stock is owned by hedge funds and other institutional investors.

Root Stock Down 0.7 %

Shares of ROOT opened at $55.50 on Tuesday. The business’s 50 day simple moving average is $61.88 and its 200-day simple moving average is $31.64. Root, Inc. has a 1 year low of $4.29 and a 1 year high of $86.57. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $826.95 million, a price-to-earnings ratio of -7.14 and a beta of 2.72.

Root (NASDAQ:ROOTGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.51) by $2.09. Root had a negative net margin of 17.61% and a negative return on equity of 62.36%. The company had revenue of $254.90 million for the quarter, compared to the consensus estimate of $203.99 million. During the same quarter in the prior year, the firm earned ($2.88) earnings per share. Root’s revenue was up 263.6% on a year-over-year basis. As a group, equities analysts expect that Root, Inc. will post -6.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Root from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $40.00 in a research report on Friday, March 1st. Wells Fargo & Company upped their price objective on Root from $64.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. JMP Securities increased their target price on Root from $15.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Cantor Fitzgerald raised Root from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $9.00 to $13.00 in a report on Thursday, February 22nd. Finally, Citigroup increased their price objective on shares of Root from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Root presently has an average rating of “Hold” and an average price target of $40.75.

Read Our Latest Stock Analysis on ROOT

Insider Activity at Root

In other Root news, major shareholder Meyer Malka sold 13,300 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $60.58, for a total transaction of $805,714.00. Following the sale, the insider now directly owns 43,107 shares of the company’s stock, valued at $2,611,422.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.71% of the stock is owned by insiders.

Root Company Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Root (NASDAQ:ROOT)

Receive News & Ratings for Root Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Root and related companies with MarketBeat.com's FREE daily email newsletter.