Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Root, Inc. $ROOT

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in shares of Root, Inc. (NASDAQ:ROOT) by 50.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 22,048 shares of the company’s stock after selling 22,048 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Root were worth $974,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its stake in Root by 511.7% during the second quarter. Russell Investments Group Ltd. now owns 734 shares of the company’s stock worth $94,000 after buying an additional 614 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Root in the third quarter valued at $144,000. Tower Research Capital LLC TRC raised its stake in shares of Root by 237.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,278 shares of the company’s stock valued at $164,000 after acquiring an additional 899 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Root in the 3rd quarter worth about $194,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Root by 181.8% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,728 shares of the company’s stock worth $197,000 after acquiring an additional 1,760 shares during the last quarter. 59.82% of the stock is currently owned by institutional investors.

Root Price Performance

Shares of ROOT stock opened at $54.15 on Friday. Root, Inc. has a twelve month low of $40.91 and a twelve month high of $129.53. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $56.98 and a two-hundred day simple moving average of $55.83. The stock has a market capitalization of $857.19 million, a price-to-earnings ratio of 16.21 and a beta of 2.85.

Root (NASDAQ:ROOT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $0.84 by $1.25. The firm had revenue of $393.50 million for the quarter, compared to analyst estimates of $398.16 million. Root had a return on equity of 19.97% and a net margin of 3.58%.The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.07 earnings per share. On average, analysts predict that Root, Inc. will post 3.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of Root from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Zacks Research raised shares of Root from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. TD Cowen restated a “hold” rating on shares of Root in a research report on Wednesday, June 17th. Wells Fargo & Company upped their target price on Root from $58.00 to $61.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Finally, UBS Group set a $50.00 price target on Root and gave the stock a “neutral” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.00.

Root Profile

Root, trading on the Nasdaq under the ticker ROOT, is a Columbus, Ohio–based insurance company that leverages mobile technology and data analytics to offer personalized auto insurance policies. Founded in 2015 by Alex Timm and Dan Manges, Root set out to transform traditional underwriting by focusing on individual driving behavior rather than broad demographic factors.

The company’s core product is usage-based auto insurance, delivered through a smartphone app that monitors driving patterns such as speed, braking and phone usage behind the wheel.