Y Intercept Hong Kong Ltd Makes New $255,000 Investment in Root, Inc. (NASDAQ:ROOT)

Y Intercept Hong Kong Ltd acquired a new stake in Root, Inc. (NASDAQ:ROOT - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,517 shares of the company's stock, valued at approximately $255,000.

A number of other hedge funds have also modified their holdings of the company. State Street Corp grew its holdings in Root by 0.3% during the third quarter. State Street Corp now owns 176,891 shares of the company's stock worth $6,683,000 after acquiring an additional 444 shares during the period. Point72 DIFC Ltd acquired a new stake in Root during the third quarter worth about $33,000. Verition Fund Management LLC grew its holdings in Root by 15.2% during the third quarter. Verition Fund Management LLC now owns 9,788 shares of the company's stock worth $370,000 after acquiring an additional 1,288 shares during the period. Nordea Investment Management AB grew its holdings in Root by 7.3% during the fourth quarter. Nordea Investment Management AB now owns 20,697 shares of the company's stock worth $1,497,000 after acquiring an additional 1,416 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in Root by 129.1% during the third quarter. MetLife Investment Management LLC now owns 5,127 shares of the company's stock worth $194,000 after acquiring an additional 2,889 shares during the period. 59.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROOT has been the topic of several analyst reports. Citizens Jmp lowered Root from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. Scotiabank reiterated a "sector perform" rating on shares of Root in a research report on Sunday, March 2nd. JMP Securities downgraded Root from an "outperform" rating to a "market perform" rating in a research report on Friday, November 22nd. UBS Group increased their price target on Root from $67.00 to $130.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Wells Fargo & Company restated a "buy" rating on shares of Root in a research report on Sunday, March 2nd. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Root has an average rating of "Moderate Buy" and an average target price of $88.33.

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Root Price Performance

Shares of NASDAQ ROOT traded up $5.56 during midday trading on Friday, hitting $133.88. The stock had a trading volume of 846,795 shares, compared to its average volume of 506,136. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $145.34. The company has a market capitalization of $2.02 billion, a PE 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 stock has a 50 day simple moving average of $98.93 and a 200-day simple moving average of $73.57.

Root (NASDAQ:ROOT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $287.79 million. On average, sell-side analysts expect that Root, Inc. will post -0.08 EPS for the current fiscal year.

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.