Tiptree Inc. (NASDAQ:TIPT) Sees Significant Increase in Short Interest

Tiptree Inc. (NASDAQ:TIPT) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 155,000 shares, a growth of 24.2% from the December 31st total of 124,800 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 84,900 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Trading of Tiptree

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Algert Global LLC grew its position in Tiptree by 1.2% during the third quarter. Algert Global LLC now owns 47,629 shares of the financial services provider’s stock valued at $932,000 after acquiring an additional 570 shares during the period. Tectonic Advisors LLC grew its holdings 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 purchasing an additional 737 shares during the period. Atria Wealth Solutions Inc. grew its holdings 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 purchasing an additional 1,000 shares during the period. Oppenheimer Asset Management Inc. increased its position in 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 purchasing an additional 1,314 shares in the last quarter. Finally, FMR LLC lifted its position in Tiptree by 43.1% during the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,339 shares in the last quarter. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Tiptree Price Performance

Shares of TIPT stock opened at $20.04 on Monday. The firm’s 50-day simple moving average is $20.84 and its 200-day simple moving average is $20.06. Tiptree has a 1-year low of $14.96 and a 1-year high of $24.09. The firm has a market cap of $742.68 million, a P/E ratio of 20.66 and a beta of 1.30.

Tiptree Dividend Announcement

The business also recently declared a special dividend, which was paid on Thursday, December 19th. Shareholders 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 dividend payout ratio (DPR) is presently 24.74%.

Wall Street Analysts Forecast Growth

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

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.