IFC Advisors LLC Grows Position in Root, Inc. $ROOT

IFC Advisors LLC boosted its stake in Root, Inc. (NASDAQ:ROOT) by 52.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,034 shares of the company’s stock after buying an additional 15,407 shares during the period. Root makes up approximately 0.7% of IFC Advisors LLC’s portfolio, making the stock its 26th biggest position. IFC Advisors LLC owned about 0.29% of Root worth $4,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC boosted its stake in Root by 3.0% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 6,225 shares of the company’s stock worth $797,000 after buying an additional 181 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Root by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock worth $686,000 after acquiring an additional 229 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Root by 28.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,087 shares of the company’s stock worth $139,000 after purchasing an additional 241 shares during the period. ProShare Advisors LLC boosted its position in shares of Root by 16.9% during the 2nd quarter. ProShare Advisors LLC now owns 2,184 shares of the company’s stock worth $279,000 after purchasing an additional 315 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Root by 1.7% in the 2nd quarter. Nordea Investment Management AB now owns 22,193 shares of the company’s stock valued at $2,858,000 after purchasing an additional 369 shares during the last quarter. Institutional investors and hedge funds own 59.82% of the company’s stock.

Analyst Upgrades and Downgrades

ROOT has been the topic of a number of research reports. Wall Street Zen cut Root from a “hold” rating to a “sell” rating in a research note on Sunday, January 18th. Zacks Research upgraded Root from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Root in a report on Monday, December 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Root in a research report on Friday, November 7th. Finally, Wells Fargo & Company set a $75.00 price target on shares of Root and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $121.60.

Root Price Performance

ROOT stock opened at $62.95 on Friday. The business’s 50-day moving average is $75.15 and its two-hundred day moving average is $87.30. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a market capitalization of $976.35 million, a P/E ratio of 19.02 and a beta of 2.70. Root, Inc. has a 1 year low of $62.48 and a 1 year high of $181.14.

Root (NASDAQ:ROOT) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. The business had revenue of $387.80 million during the quarter, compared to the consensus estimate of $363.06 million. Root had a return on equity of 23.36% and a net margin of 3.80%.The business’s revenue for the quarter was up 26.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.35 earnings per share. Analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

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.