Los Angeles Capital Management LLC Invests $309,000 in Root, Inc. (NASDAQ:ROOT)

Los Angeles Capital Management LLC bought a new stake in shares of Root, Inc. (NASDAQ:ROOT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 4,257 shares of the company's stock, valued at approximately $309,000.

Several other large investors have also recently made changes to their positions in ROOT. XTX Topco Ltd bought a new position in Root in the 3rd quarter valued at approximately $645,000. FMR LLC lifted its position in Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company's stock valued at $682,000 after acquiring an additional 16,348 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Root in the 3rd quarter valued at approximately $539,000. Point72 Asset Management L.P. bought a new position in Root in the 3rd quarter valued at approximately $428,000. Finally, Barclays PLC lifted its position in Root by 361.6% in the 3rd quarter. Barclays PLC now owns 14,033 shares of the company's stock valued at $529,000 after acquiring an additional 10,993 shares in the last quarter. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Root Stock Performance

ROOT traded up $5.56 during mid-day trading on Friday, reaching $133.88. 846,795 shares of the company traded hands, compared to its average volume of 506,136. The stock has a market capitalization of $2.02 billion, a P/E ratio of -108.85 and a beta of 2.48. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65. The company's fifty day moving average price is $98.93 and its 200-day moving average price is $73.57. Root, Inc. has a 52-week low of $34.04 and a 52-week high of $145.34.

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Root (NASDAQ:ROOT - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of ($0.63) by $1.93. The business had revenue of $326.70 million during the quarter, compared to analyst estimates of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. On average, sell-side analysts expect that Root, Inc. will post -0.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JMP Securities cut Root from an "outperform" rating to a "market perform" rating in a research report on Friday, November 22nd. Wells Fargo & Company reaffirmed a "buy" rating on shares of Root in a research report on Sunday, March 2nd. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. UBS Group upped their price objective on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Citizens Jmp lowered shares of Root from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Root currently has an average rating of "Moderate Buy" and an average price target of $88.33.

About Root

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.