Fox Run Management L.L.C. Has $1.89 Million Position in Root, Inc. $ROOT

Fox Run Management L.L.C. boosted its stake in shares of Root, Inc. (NASDAQ:ROOT) by 37.7% during the second quarter, Holdings Channel reports. The fund owned 14,770 shares of the company’s stock after acquiring an additional 4,041 shares during the period. Fox Run Management L.L.C.’s holdings in Root were worth $1,890,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Root by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,141 shares of the company’s stock valued at $686,000 after purchasing an additional 229 shares during the last quarter. Twin Tree Management LP acquired a new position in Root during the 1st quarter worth $37,000. Nordea Investment Management AB boosted its position 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 buying an additional 369 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in Root by 30.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 1,700 shares of the company’s stock valued at $218,000 after buying an additional 400 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Root by 0.6% in the 1st quarter. Northern Trust Corp now owns 75,646 shares of the company’s stock valued at $10,094,000 after buying an additional 487 shares during the period. 59.82% of the stock is owned by institutional investors.

Root Trading Down 2.4%

ROOT opened at $79.08 on Friday. The firm’s fifty day moving average is $87.51 and its two-hundred day moving average is $112.16. The firm has a market cap of $1.22 billion, a PE ratio of 23.89 and a beta of 2.21. Root, Inc. has a twelve month low of $68.48 and a twelve month high of $181.14. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.26 and a current ratio of 1.26.

Root (NASDAQ:ROOT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.08. The company had revenue of $387.80 million during the quarter, compared to analyst estimates of $363.06 million. Root had a net margin of 3.80% and a return on equity of 24.38%. The firm’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 EPS. Equities research analysts anticipate that Root, Inc. will post -0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

ROOT has been the subject of a number of research reports. Jefferies Financial Group lowered their price objective on Root from $172.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Wells Fargo & Company lifted their price target on shares of Root from $89.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group reissued a “neutral” rating and set a $105.00 price target (down from $140.00) on shares of Root in a research note on Monday, August 18th. Wall Street Zen cut shares of Root from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Zacks Research lowered shares of Root from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Root presently has an average rating of “Hold” and a consensus target price of $125.80.

Insider Activity

In other news, CEO Alexander E. Timm sold 10,861 shares of Root stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $88.88, for a total transaction of $965,325.68. Following the transaction, the chief executive officer owned 157,748 shares in the company, valued at $14,020,642.24. The trade was a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mahtiyar Bonakdarpour sold 5,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $89.74, for a total value of $516,005.00. Following the completion of the transaction, the insider owned 274,226 shares of the company’s stock, valued at $24,609,041.24. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.76% of the stock is owned by corporate insiders.

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.