Capital Fund Management S.A. Acquires Shares of 15,154 Root, Inc. $ROOT

Capital Fund Management S.A. bought a new stake in Root, Inc. (NASDAQ:ROOT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,154 shares of the company’s stock, valued at approximately $1,939,000. Capital Fund Management S.A. owned approximately 0.10% of Root as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Tree Management LP acquired a new stake in shares of Root during the first quarter worth approximately $37,000. Russell Investments Group Ltd. grew its holdings in Root by 511.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock worth $94,000 after acquiring an additional 614 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Root by 28.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock worth $139,000 after purchasing an additional 241 shares during the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Root by 30.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 1,700 shares of the company’s stock valued at $218,000 after purchasing an additional 400 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of Root in the 1st quarter valued at about $225,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Root Stock Up 0.8%

Shares of Root stock opened at $77.52 on Thursday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.42 and a beta of 2.64. Root, Inc. has a twelve month low of $68.08 and a twelve month high of $181.14. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $81.40 and its 200-day simple moving average is $103.90.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Root had a return on equity of 23.36% and a net margin of 3.80%.The firm had revenue of $387.80 million during the quarter, compared to the consensus estimate of $363.06 million. During the same period in the prior year, the business earned $1.35 EPS. The firm’s revenue was up 26.9% on a year-over-year basis. Equities research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

ROOT has been the subject of several research analyst reports. Wall Street Zen lowered Root from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wells Fargo & Company boosted their price target on Root from $89.00 to $96.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Root in a research report on Friday, November 7th. Jefferies Financial Group decreased their price objective on shares of Root from $172.00 to $138.00 and set a “buy” rating for the company in a report on Monday, August 11th. Finally, Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.80.

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.