Rhumbline Advisers Has $1.06 Million Stock Holdings in Root, Inc. (NASDAQ:ROOT)

Rhumbline Advisers grew its stake in shares of Root, Inc. (NASDAQ:ROOT - Free Report) by 27.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,628 shares of the company's stock after acquiring an additional 3,169 shares during the period. Rhumbline Advisers owned about 0.10% of Root worth $1,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of ROOT. FMR LLC grew its holdings in shares of Root by 966.2% during the third quarter. FMR LLC now owns 18,040 shares of the company's stock valued at $682,000 after buying an additional 16,348 shares in the last quarter. Barclays PLC boosted its position in Root by 361.6% during the 3rd quarter. Barclays PLC now owns 14,033 shares of the company's stock worth $529,000 after acquiring an additional 10,993 shares during the period. Versor Investments LP purchased a new position in Root during the 3rd quarter valued at about $216,000. Nordea Investment Management AB increased its holdings in shares of Root by 7.3% in the 4th quarter. Nordea Investment Management AB now owns 20,697 shares of the company's stock valued at $1,497,000 after purchasing an additional 1,416 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of Root in the 3rd quarter valued at about $428,000. Institutional investors and hedge funds own 59.82% of the company's stock.

Root Stock Up 4.3 %

NASDAQ ROOT traded up $5.56 during trading on Friday, reaching $133.88. The company's stock had a trading volume of 846,795 shares, compared to its average volume of 505,574. The business has a 50-day moving average price of $100.15 and a 200-day moving average price of $74.35. Root, Inc. has a 1-year low of $34.04 and a 1-year high of $145.34. 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 stock has a market capitalization of $2.02 billion, a PE ratio of -108.85 and a beta of 2.48.

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Root (NASDAQ:ROOT - Get Free Report) last posted 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. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The firm had revenue of $326.70 million during the quarter, compared to analyst estimates of $287.79 million. On average, research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ROOT. UBS Group boosted their price objective on shares of Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research report on Friday. JMP Securities lowered shares of Root from an "outperform" rating to a "market perform" rating in a research note on Friday, November 22nd. Scotiabank reissued a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Citizens Jmp lowered shares of Root from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Finally, Wells Fargo & Company reissued a "buy" rating on shares of Root in a research note on Sunday, March 2nd. Five 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 company's stock. According to MarketBeat, Root has a consensus rating of "Moderate Buy" and a consensus 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.