Quantbot Technologies LP Buys Shares of 14,368 Root, Inc. $ROOT

Quantbot Technologies LP bought a new stake in Root, Inc. (NASDAQ:ROOT) during the 3rd quarter, Holdings Channel reports. The fund bought 14,368 shares of the company’s stock, valued at approximately $1,286,000.

Several other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Root by 122.2% in the first quarter. AQR Capital Management LLC now owns 10,229 shares of the company’s stock valued at $1,365,000 after buying an additional 5,626 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Root by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock valued at $686,000 after acquiring an additional 229 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Root in the 2nd quarter valued at $777,000. Teacher Retirement System of Texas bought a new position in shares of Root in the 2nd quarter worth $318,000. Finally, Versor Investments LP acquired a new stake in shares of Root during the second quarter worth $422,000. Institutional investors and hedge funds own 59.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $104.00 target price (down from $150.00) on shares of Root in a research note on Thursday, February 26th. Zacks Research upgraded shares of Root from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of Root from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Wells Fargo & Company lowered their target price on shares of Root from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Finally, Weiss Ratings raised shares of Root from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $108.40.

Root Trading Down 1.4%

Shares of NASDAQ:ROOT opened at $48.00 on Friday. Root, Inc. has a 12 month low of $46.63 and a 12 month high of $181.14. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $64.73 and its 200 day simple moving average is $77.72. The firm has a market cap of $744.43 million, a price-to-earnings ratio of 20.69 and a beta of 2.84.

Root (NASDAQ:ROOT) last announced its earnings results on Wednesday, February 25th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.28. The firm had revenue of $397.00 million during the quarter, compared to analyst estimates of $381.57 million. Root had a net margin of 2.58% and a return on equity of 15.34%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 EPS. As a group, research analysts forecast that Root, Inc. will post -0.08 EPS for the current fiscal year.

Root Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.