Landscape Capital Management L.L.C. Takes $2.04 Million Position in Root, Inc. (NASDAQ:ROOT)

Landscape Capital Management L.L.C. bought a new position in shares of Root, Inc. (NASDAQ:ROOT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,150 shares of the company's stock, valued at approximately $2,043,000. Landscape Capital Management L.L.C. owned approximately 0.19% of Root at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Root by 16.2% during the fourth quarter. Vanguard Group Inc. now owns 526,928 shares of the company's stock worth $38,250,000 after buying an additional 73,413 shares during the period. State Street Corp increased its position in shares of Root by 0.3% in the 3rd quarter. State Street Corp now owns 176,891 shares of the company's stock valued at $6,683,000 after purchasing an additional 444 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Root by 163.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company's stock valued at $9,286,000 after purchasing an additional 79,317 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Root during the 4th quarter worth $1,952,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Root by 36.0% during the fourth quarter. Bank of New York Mellon Corp now owns 24,438 shares of the company's stock worth $1,774,000 after purchasing an additional 6,465 shares in the last quarter. Hedge funds and other institutional investors own 59.82% of the company's stock.

Root Stock Performance

Shares of Root stock traded down $9.57 during trading on Thursday, reaching $119.29. The company's stock had a trading volume of 304,448 shares, compared to its average volume of 628,785. Root, Inc. has a fifty-two week low of $34.04 and a fifty-two week high of $181.14. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.65. The firm has a market cap of $1.81 billion, a PE ratio of -96.99 and a beta of 2.41. The company has a 50-day moving average price of $128.28 and a two-hundred day moving average price of $90.95.

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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, topping the consensus estimate of ($0.63) by $1.93. The business had revenue of $326.70 million during the quarter, compared to the consensus estimate of $287.79 million. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. On average, analysts forecast that Root, Inc. will post -0.08 EPS for the current year.

Insider Buying and Selling at Root

In other news, insider Mahtiyar Bonakdarpour sold 5,515 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total value of $688,161.70. Following the completion of the sale, the insider now owns 286,901 shares in the company, valued at approximately $35,799,506.78. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alexander E. Timm sold 1,144 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the transaction, the chief executive officer now owns 161,625 shares in the company, valued at approximately $21,659,366.25. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,659 shares of company stock worth $1,191,469. 11.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ROOT has been the subject of a number of recent analyst reports. UBS Group lifted their price target on Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a report on Friday, March 7th. Scotiabank reaffirmed a "sector perform" rating on shares of Root in a report on Sunday, March 2nd. Finally, Wells Fargo & Company reissued a "buy" rating on shares of Root in a report on Sunday, March 2nd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Root has an average rating of "Moderate Buy" and an average price target of $88.33.

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.