SG Americas Securities LLC Takes $412,000 Position in Root, Inc. (NASDAQ:ROOT)

SG Americas Securities LLC acquired a new stake in shares of Root, Inc. (NASDAQ:ROOT) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 10,892 shares of the company’s stock, valued at approximately $412,000. SG Americas Securities LLC owned approximately 0.07% of Root as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Root during the 1st quarter valued at approximately $1,171,000. Tidal Investments LLC bought a new stake in Root during the 1st quarter valued at approximately $1,997,000. Quantbot Technologies LP bought a new stake in Root during the 1st quarter valued at approximately $431,000. Driehaus Capital Management LLC bought a new stake in Root during the 2nd quarter valued at approximately $9,154,000. Finally, Bank of New York Mellon Corp bought a new stake in Root during the 2nd quarter valued at approximately $1,280,000. Institutional investors own 59.82% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Root from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $90.00 price objective on shares of Root in a research note on Tuesday. UBS Group reduced their price objective on Root from $71.00 to $61.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $82.00 price objective (down previously from $88.00) on shares of Root in a research note on Friday, August 16th. Finally, Jefferies Financial Group reduced their price objective on Root from $84.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Root has an average rating of “Moderate Buy” and a consensus price target of $55.63.

Root Stock Performance

Shares of Root stock opened at $42.07 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.98. The stock has a 50 day moving average price of $41.62 and a 200-day moving average price of $53.29. Root, Inc. has a one year low of $7.22 and a one year high of $86.57.

Root (NASDAQ:ROOT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($1.74) by $1.22. Root had a negative return on equity of 50.80% and a negative net margin of 9.81%. The business had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $264.80 million. During the same period in the prior year, the business earned ($2.55) EPS. The business’s revenue for the quarter was up 286.6% compared to the same quarter last year. Equities analysts forecast that Root, Inc. will post -2.13 EPS for the current year.

About Root

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.