Quantbot Technologies LP Has $561,000 Holdings in Root, Inc. (NASDAQ:ROOT)

Quantbot Technologies LP increased its stake in shares of Root, Inc. (NASDAQ:ROOT) by 120.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,836 shares of the company’s stock after acquiring an additional 8,092 shares during the period. Quantbot Technologies LP owned 0.10% of Root worth $561,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ROOT. Price T Rowe Associates Inc. MD bought a new position in shares of Root in the first quarter valued at approximately $434,000. Bank of New York Mellon Corp bought a new position in Root in the 2nd quarter worth $1,280,000. Rhumbline Advisers lifted its position in Root by 2,355.5% during the 2nd quarter. Rhumbline Advisers now owns 11,590 shares of the company’s stock worth $598,000 after acquiring an additional 11,118 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Root by 76.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,930 shares of the company’s stock worth $306,000 after acquiring an additional 2,576 shares during the last quarter. Finally, Venator Management LLC bought a new stake in Root during the second quarter valued at about $516,000. 59.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Root

In other news, Director Julie Szudarek sold 2,000 shares of Root stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $96.33, for a total value of $192,660.00. Following the completion of the transaction, the director now owns 15,003 shares in the company, valued at approximately $1,445,238.99. The trade was a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Meyer Malka sold 75,839 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $81.21, for a total value of $6,158,885.19. Following the sale, the insider now owns 43,107 shares in the company, valued at $3,500,719.47. The trade was a 63.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,905 shares of company stock valued at $20,440,479. 11.71% of the stock is currently owned by company insiders.

Root Stock Performance

NASDAQ ROOT opened at $99.27 on Tuesday. Root, Inc. has a twelve month low of $7.22 and a twelve month high of $118.15. 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 market cap of $1.50 billion, a P/E ratio of -81.31 and a beta of 2.34. The company’s 50-day simple moving average is $61.09 and its 200 day simple moving average is $55.32.

Root (NASDAQ:ROOT) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.35 earnings per share for the quarter, beating the consensus estimate of ($0.61) by $1.96. The company had revenue of $305.70 million for the quarter, compared to analyst estimates of $272.77 million. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company’s revenue was up 165.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($3.16) EPS. As a group, research analysts forecast that Root, Inc. will post -1.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ROOT has been the subject of several research analyst reports. UBS Group boosted their price objective on Root from $61.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their price objective on Root from $64.00 to $78.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $90.00 target price (up previously from $82.00) on shares of Root in a research report on Tuesday, November 5th. JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a research note on Friday, November 22nd. Finally, Citizens Jmp lowered shares of Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $59.13.

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.