Tiptree Inc. (NASDAQ:TIPT) Sees Large Drop in Short Interest

Tiptree Inc. (NASDAQ:TIPT) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totalling 124,800 shares, a drop of 33.5% from the December 31st total of 187,700 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 80,700 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Algert Global LLC lifted its position in Tiptree by 1.2% during the 3rd quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock worth $932,000 after acquiring an additional 570 shares during the period. Tectonic Advisors LLC raised its stake in shares of Tiptree by 2.8% during the 3rd quarter. Tectonic Advisors LLC now owns 27,496 shares of the financial services provider’s stock worth $538,000 after buying an additional 737 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in shares of Tiptree by 5.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 18,680 shares of the financial services provider’s stock worth $390,000 after buying an additional 1,000 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Tiptree by 8.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,185 shares of the financial services provider’s stock worth $336,000 after buying an additional 1,314 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Tiptree by 43.1% during the 3rd quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,339 shares in the last quarter. Hedge funds and other institutional investors own 37.78% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Tiptree from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st.

Tiptree Stock Performance

Shares of Tiptree stock traded down $0.13 during trading hours on Friday, hitting $20.04. The company’s stock had a trading volume of 71,518 shares, compared to its average volume of 83,721. The stock has a market cap of $742.68 million, a price-to-earnings ratio of 20.66 and a beta of 1.32. Tiptree has a twelve month low of $14.96 and a twelve month high of $24.09. The firm has a fifty day moving average of $20.88 and a 200-day moving average of $20.02.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. Tiptree had a return on equity of 11.50% and a net margin of 2.05%. The firm had revenue of $494.36 million for the quarter.

Tiptree Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. Tiptree’s payout ratio is currently 24.74%.

About Tiptree

Tiptree Inc, through its subsidiaries, provides specialty insurance products and related services primarily in the United States. It operates through two segments: Insurance and Mortgage. The company offers niche; commercial lines insurance products, including professional liability, general liability, contractual liability protection, property and other short-tail, and alternative risks insurance products; and personal lines insurance products, such as credit protection surrounding loan payments.