GAMMA Investing LLC Raises Stock Holdings in Root, Inc. (NASDAQ:ROOT)

GAMMA Investing LLC grew its stake in Root, Inc. (NASDAQ:ROOT - Free Report) by 20,561.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,810 shares of the company's stock after acquiring an additional 12,748 shares during the quarter. GAMMA Investing LLC owned about 0.08% of Root worth $1,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. lifted its position in shares of Root by 651.8% in the fourth quarter. Russell Investments Group Ltd. now owns 421 shares of the company's stock valued at $31,000 after acquiring an additional 365 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Root in the fourth quarter valued at $94,000. Aquatic Capital Management LLC lifted its position in shares of Root by 92.1% in the fourth quarter. Aquatic Capital Management LLC now owns 1,537 shares of the company's stock valued at $112,000 after acquiring an additional 737 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Root in the fourth quarter valued at $154,000. Finally, FreeGulliver LLC purchased a new stake in shares of Root in the fourth quarter valued at $203,000. 59.82% of the stock is currently owned by hedge funds and other institutional investors.

Root Stock Performance

Shares of NASDAQ:ROOT opened at $146.69 on Friday. The firm has a market capitalization of $2.25 billion, a PE ratio of -119.26 and a beta of 2.31. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39. The business has a 50-day moving average of $137.19 and a two-hundred day moving average of $116.48. Root, Inc. has a 12 month low of $34.04 and a 12 month high of $181.14.

Root (NASDAQ:ROOT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.62. Root had a negative return on equity of 9.81% and a negative net margin of 1.56%. The company had revenue of $349.40 million during the quarter, compared to the consensus estimate of $305.24 million. During the same quarter in the prior year, the business earned ($0.42) earnings per share. The company's revenue was up 37.2% compared to the same quarter last year. As a group, research analysts forecast that Root, Inc. will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Root from $150.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their target price on Root from $105.00 to $142.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. UBS Group upped their target price on Root from $67.00 to $130.00 and gave the company a "neutral" rating in a research note on Friday, March 7th. Wall Street Zen lowered Root from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Scotiabank reiterated a "sector perform" rating on shares of Root in a research note on Sunday, March 2nd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $136.40.

Insider Transactions at Root

In other Root news, CEO Alexander E. Timm sold 1,144 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $134.01, for a total transaction of $153,307.44. Following the completion of the sale, the chief executive officer now owns 161,625 shares in the company, valued at $21,659,366.25. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doug Ulman sold 2,000 shares of Root stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $175.00, for a total value of $350,000.00. Following the sale, the director now owns 6,201 shares in the company, valued at $1,085,175. This represents a 24.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,742 shares of company stock valued at $34,553,788 over the last quarter. Company insiders own 11.76% of the company's stock.

Root Company 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.

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