Tiptree (NASDAQ:TIPT) Lowered to Sell at BidaskClub

Tiptree (NASDAQ:TIPT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday, BidAskClub reports.

Separately, ValuEngine upgraded Tiptree from a “sell” rating to a “hold” rating in a research note on Thursday.

TIPT stock opened at $7.36 on Friday. The stock has a market capitalization of $260.25 million, a price-to-earnings ratio of 18.40 and a beta of 0.10. Tiptree has a 1 year low of $5.45 and a 1 year high of $8.30. The stock’s fifty day moving average is $7.94 and its two-hundred day moving average is $7.29.

Tiptree (NASDAQ:TIPT) last posted its earnings results on Wednesday, November 6th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $189.19 million during the quarter. Tiptree had a net margin of 2.01% and a return on equity of 1.27%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its stake in shares of Tiptree by 31.3% during the third quarter. Barclays PLC now owns 22,692 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 5,403 shares in the last quarter. Mackay Shields LLC raised its stake in shares of Tiptree by 12.1% during the third quarter. Mackay Shields LLC now owns 36,258 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 3,900 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Tiptree during the third quarter valued at about $78,000. Rhumbline Advisers raised its stake in shares of Tiptree by 8.5% during the third quarter. Rhumbline Advisers now owns 40,494 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 3,175 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Tiptree during the second quarter valued at about $50,000. Institutional investors and hedge funds own 33.69% of the company’s stock.

About Tiptree

Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.

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