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

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

Hedge Funds Weigh In On Tiptree

Several hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC lifted its holdings in shares of Tiptree by 22.0% in the 2nd quarter. Hsbc Holdings PLC now owns 18,563 shares of the financial services provider’s stock worth $302,000 after buying an additional 3,342 shares during the period. Marshall Wace LLP raised its stake in Tiptree by 114.0% in the second quarter. Marshall Wace LLP now owns 51,312 shares of the financial services provider’s stock valued at $846,000 after buying an additional 27,335 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Tiptree in the second quarter valued at about $320,000. AQR Capital Management LLC acquired a new position in shares of Tiptree in the second quarter valued at about $859,000. Finally, Millennium Management LLC grew its holdings in Tiptree by 58.7% during the second quarter. Millennium Management LLC now owns 205,416 shares of the financial services provider’s stock worth $3,387,000 after acquiring an additional 75,943 shares during the period. Institutional investors own 37.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Tiptree Trading Down 0.6 %

Shares of NASDAQ TIPT traded down $0.13 during trading hours on Friday, hitting $20.04. 71,518 shares of the company traded hands, compared to its average volume of 83,721. The stock has a market capitalization of $742.68 million, a price-to-earnings ratio of 20.66 and a beta of 1.32. The company’s 50 day moving average price is $20.88 and its 200 day moving average price is $20.02. Tiptree has a 12 month low of $14.96 and a 12 month high of $24.09.

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

Tiptree Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 11th were given a $0.25 dividend. The ex-dividend date was Wednesday, December 11th. Tiptree’s dividend payout ratio (DPR) is presently 24.74%.

Tiptree Company Profile

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.