Landscape Capital Management L.L.C. Invests $2.04 Million in Root, Inc. (NASDAQ:ROOT)

Landscape Capital Management L.L.C. acquired a new position in Root, Inc. (NASDAQ:ROOT) in the 4th quarter, Holdings Channel.com reports. The firm acquired 28,150 shares of the company’s stock, valued at approximately $2,043,000.

A number of other institutional investors also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Root by 163.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,923 shares of the company’s stock worth $9,286,000 after acquiring an additional 79,317 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Root by 16.2% in the fourth quarter. Vanguard Group Inc. now owns 526,928 shares of the company’s stock worth $38,250,000 after purchasing an additional 73,413 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Root during the 4th quarter valued at $1,952,000. XTX Topco Ltd purchased a new position in shares of Root during the 3rd quarter valued at $645,000. Finally, FMR LLC boosted its holdings in Root by 966.2% in the 3rd quarter. FMR LLC now owns 18,040 shares of the company’s stock worth $682,000 after buying an additional 16,348 shares during the period. 59.82% of the stock is owned by institutional investors.

Root Stock Performance

NASDAQ:ROOT opened at $112.37 on Friday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -91.36 and a beta of 2.41. Root, Inc. has a 1 year low of $34.04 and a 1 year high of $181.14. The stock’s 50 day simple moving average is $125.54 and its two-hundred day simple moving average is $88.25. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.39 and a quick ratio of 1.39.

Root (NASDAQ:ROOT) last released its quarterly earnings results on Wednesday, February 26th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $287.79 million. As a group, equities analysts anticipate that Root, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Root

In other news, insider Mahtiyar Bonakdarpour sold 5,515 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $124.78, for a total value of $688,161.70. Following the completion of the sale, the insider now owns 286,901 shares in the company, valued at approximately $35,799,506.78. This trade represents a 1.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Doug Ulman sold 2,000 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $175.00, for a total transaction of $350,000.00. Following the transaction, the director now owns 6,201 shares in the company, valued at $1,085,175. The trade was a 24.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,659 shares of company stock valued at $1,191,469. Insiders own 11.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ROOT. UBS Group raised their price target on Root from $67.00 to $130.00 and gave the company a “neutral” rating in a report on Friday, March 7th. Wells Fargo & Company reissued a “buy” rating on shares of Root in a report on Sunday, March 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Root in a report on Sunday, March 2nd. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.33.

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.