By Stephen Nakrosis

Shares of insurer Root Inc. had been buying and selling decrease after hours Monday, following the discharge of second-quarter monetary outcomes and the corporate’s announcement it’s shifting ahead with a 1-for-18 reverse inventory break up, anticipated to take impact after the market closes on Aug. 12.

At 6:22 p.m. ET, the corporate’s shares had been buying and selling 10.95% decrease at $1.22 a share. Quantity within the after-hours market was just under 260,000 shares.
After the bell, Root reported a second-quarter loss per share of 36 cents on income of $80.four million. Within the year-ago interval, the corporate reported a loss per share of 72 cents on income of $89.eight million.
A letter to shareholders posted on the corporate’s web site mentioned “the final 12 months have been probably the most tough durations for auto insurers in a long time.” It additionally mentioned “within the second half of the 12 months, we proceed to anticipate gross written premiums to replicate important year-over-year declines and working losses to indicate year-over-year enchancment.”
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com