Counterpoint Mutual Funds LLC Purchases Shares of 5,485 Root, Inc. (NASDAQ:ROOT)

Counterpoint Mutual Funds LLC purchased a new stake in shares of Root, Inc. (NASDAQ:ROOT) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 5,485 shares of the company’s stock, valued at approximately $398,000.

Several other hedge funds have also bought and sold shares of ROOT. Dynamic Technology Lab Private Ltd bought a new stake in Root during the third quarter valued at about $539,000. Quantbot Technologies LP grew its holdings in Root by 120.0% during the third quarter. Quantbot Technologies LP now owns 14,836 shares of the company’s stock valued at $561,000 after purchasing an additional 8,092 shares during the period. FMR LLC grew its holdings in 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 purchasing an additional 16,348 shares during the period. 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 valued at $194,000 after purchasing an additional 2,889 shares during the period. Finally, Verition Fund Management LLC lifted its position in shares of Root by 15.2% in the third quarter. Verition Fund Management LLC now owns 9,788 shares of the company’s stock valued at $370,000 after acquiring an additional 1,288 shares in the last quarter. Institutional investors own 59.82% of the company’s stock.

Root Price Performance

NASDAQ:ROOT opened at $152.34 on Tuesday. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $154.52. 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 business’s 50-day moving average is $108.11 and its 200 day moving average is $78.60. The company has a market capitalization of $2.32 billion, a P/E ratio of -123.85 and a beta of 2.48.

Root (NASDAQ:ROOT) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating 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 business had revenue of $326.70 million for the quarter, compared to the consensus estimate of $287.79 million. On average, equities research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Scotiabank restated a “sector perform” rating on shares of Root in a research report on Sunday, March 2nd. UBS Group boosted their price objective on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a research report on Friday, March 7th. Citizens Jmp downgraded Root from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Wells Fargo & Company restated a “buy” rating on shares of Root in a research report on Sunday, March 2nd. Finally, JMP Securities downgraded Root from an “outperform” rating to a “market perform” rating in a research report on Friday, November 22nd. Five equities research 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $88.33.

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.