Counterpoint Mutual Funds LLC Takes $398,000 Position in Root, Inc. (NASDAQ:ROOT)

Counterpoint Mutual Funds LLC purchased a new position in Root, Inc. (NASDAQ:ROOT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,485 shares of the company’s stock, valued at approximately $398,000.

Other institutional investors also recently bought and sold shares of the company. Point72 DIFC Ltd bought a new position in Root in the third quarter worth about $33,000. SBI Securities Co. Ltd. bought a new position in shares of Root during the fourth quarter valued at approximately $154,000. Wesbanco Bank Inc. bought a new position in shares of Root during the fourth quarter valued at approximately $218,000. Y Intercept Hong Kong Ltd bought a new position in shares of Root during the fourth quarter valued at approximately $255,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Root during the fourth quarter valued at approximately $309,000. 59.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ROOT. Citizens Jmp downgraded shares of Root from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Scotiabank reaffirmed a “sector perform” rating on shares of Root in a research note on Sunday, March 2nd. UBS Group increased their price target on shares of Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Wells Fargo & Company reiterated a “buy” rating on shares of Root in a report on Sunday, March 2nd. Finally, JMP Securities cut shares of Root from an “outperform” rating to a “market perform” rating in a report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Root presently has an average rating of “Moderate Buy” and a consensus target price of $88.33.

Root Trading Up 0.4 %

Shares of ROOT stock 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 firm’s 50 day moving average is $108.11 and its 200 day moving average is $78.60. The stock 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 earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (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 company had revenue of $326.70 million for the quarter, compared to analysts’ expectations of $287.79 million. Research analysts expect that Root, Inc. will post -0.08 earnings per share for the current 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.