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Root, Inc. (NASDAQ:ROOT ) Q3 2023 Earnings Conference Call November 2, 2023 8:00 AM ET Company Participants Alex Timm - Co-Founder & CEO Megan Binkley - CFO Matt LaMalva - IR Conference Call Participants Josh Siegler - Cantor Fitzgerald Tommy McJoynt - KBW Elyse Greenspan - Wells Fargo Alison Jacobowitz - UBS Operator Good morning. My name is Chris, and I will be your conference operator today.
COLUMBUS, Ohio, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance Company, today announced its plans to host a conference call to discuss financial results for the third quarter on Thursday, November 2, 2023 at 8:00 a.m. Eastern Time.
Root, Inc. (ROOT) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
On June 21, 2023, per the WSJ, it was reported James Hall made a $19.34 cash bid for Root, Inc. On June 29, 2023, after the bell, Root's Board of Directors wrote a strangely worded statement, to dispel the legitimacy of the Hall bid. Although I think the James Hall bid is highly credible, at least logically and based on the evidence, I write to share the fundamental long case.
Root, Inc. (ROOT) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.
Root (NASDAQ: ROOT ) stock is falling on Friday after the car insurance company responded to reports of a takeover bid. Root's Board of Directors released a joint statement concerning reports that Embedded Insurance has been attempting to buy the company.
Root Stock: Still Not A Good Value Despite Generous Takeover Bid
Shares of car-insurer Root (NASDAQ: ROOT ) stock are up by over 35% today, bringing its year-to-date gain to over 200%. Earlier this week, The Wall Street Journal reported that Embedded Insurance (EI) made an offer to acquire the company for $19.34 per share, giving it a valuation of over $80 million.
Root, Inc. (ROOT) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Online car insurance name Root Inc (NASDAQ:ROOT) is up 44.8% to trade at $13.93 this morning, after the Wall Street Journal reported Embedded Insurance expressed interest in acquiring the company for $19.34 per share -- a more than 53% premium to last night's close.