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

Los Angeles Capital Management LLC acquired a new stake in Root, Inc. (NASDAQ:ROOT) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 4,257 shares of the company’s stock, valued at approximately $309,000.

Other hedge funds have also modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Root in the 3rd quarter valued at $33,000. Wesbanco Bank Inc. acquired a new position in Root in the fourth quarter valued at $218,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Root in the fourth quarter valued at about $255,000. MetLife Investment Management LLC boosted its stake in shares of 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 buying an additional 2,889 shares during the period. Finally, Versor Investments LP purchased a new position in shares of Root during the third quarter worth about $216,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research note on Sunday. Citizens Jmp cut Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a research report on Sunday. JMP Securities downgraded shares of Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $90.00 target price (up previously from $82.00) on shares of Root in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Root has a consensus rating of “Moderate Buy” and an average price target of $77.83.

Root Stock Up 3.7 %

ROOT opened at $132.35 on Wednesday. The business’s fifty day simple moving average is $96.49 and its 200 day simple moving average is $72.70. Root, Inc. has a 52 week low of $34.04 and a 52 week high of $142.72. The firm has a market cap of $2.00 billion, a P/E ratio of -107.60 and a beta of 2.58. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.65.

Root (NASDAQ:ROOT) last released its earnings results on Wednesday, February 26th. The company reported $1.30 EPS for the quarter, topping the consensus estimate of ($0.63) by $1.93. Root had a negative net margin of 1.56% and a negative return on equity of 9.81%. The firm had revenue of $326.70 million during the quarter, compared to analysts’ expectations of $287.79 million. As a group, equities research analysts anticipate 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.