General Equity Holdings LP Buys Shares of 19,700 Root, Inc. $ROOT

General Equity Holdings LP bought a new position in Root, Inc. (NASDAQ:ROOT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,700 shares of the company’s stock, valued at approximately $2,521,000. Root makes up approximately 1.9% of General Equity Holdings LP’s investment portfolio, making the stock its 8th largest holding. General Equity Holdings LP owned about 0.13% of Root as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Root by 66.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 679,696 shares of the company’s stock valued at $90,699,000 after purchasing an additional 271,097 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in Root in the 2nd quarter worth about $33,829,000. Invesco Ltd. lifted its stake in Root by 5,575.0% during the 1st quarter. Invesco Ltd. now owns 256,792 shares of the company’s stock valued at $34,266,000 after acquiring an additional 252,267 shares during the period. American Century Companies Inc. purchased a new stake in shares of Root during the 1st quarter valued at about $30,786,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Root during the 1st quarter valued at about $20,423,000. 59.82% of the stock is owned by institutional investors.

Root Stock Down 4.2%

ROOT opened at $81.02 on Friday. The firm’s 50 day simple moving average is $80.22 and its two-hundred day simple moving average is $101.45. The company has a market capitalization of $1.26 billion, a PE ratio of 24.48 and a beta of 2.64. Root, Inc. has a 1-year low of $68.08 and a 1-year 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.

Root (NASDAQ:ROOT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate 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 analyst estimates of $363.06 million. During the same period in the prior year, the business posted $1.35 EPS. Root’s revenue was up 26.9% on a year-over-year basis. As a group, equities analysts forecast that Root, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ROOT. Weiss Ratings restated a “sell (d+)” rating on shares of Root in a research report on Monday, December 8th. UBS Group reiterated a “neutral” rating and set a $105.00 target price (down from $140.00) on shares of Root in a research note on Monday, August 18th. Wall Street Zen cut Root from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Wells Fargo & Company lifted their price objective on Root from $89.00 to $96.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, Zacks Research cut Root from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.