Short Interest in Tiptree Inc. (NASDAQ:TIPT) Drops By 21.3%

Tiptree Inc. (NASDAQ:TIPT) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 193,600 shares, a decline of 21.3% from the March 31st total of 246,000 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 113,000 shares, the short-interest ratio is currently 1.7 days.

Insider Activity

In related news, CEO Jonathan Ilany purchased 2,900 shares of Tiptree stock in a transaction dated Tuesday, March 5th. The shares were acquired at an average price of $16.95 per share, with a total value of $49,155.00. Following the completion of the transaction, the chief executive officer now owns 190,471 shares of the company’s stock, valued at approximately $3,228,483.45. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 31.78% of the company’s stock.

Institutional Trading of Tiptree

Hedge funds have recently made changes to their positions in the stock. Breach Inlet Capital Management LLC bought a new position in Tiptree during the 4th quarter worth $14,894,000. Tower Research Capital LLC TRC boosted its holdings in shares of Tiptree by 272.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,126 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 1,555 shares during the period. Cove Street Capital LLC grew its position in shares of Tiptree by 11.6% during the fourth quarter. Cove Street Capital LLC now owns 395,635 shares of the financial services provider’s stock worth $7,501,000 after acquiring an additional 41,277 shares during the last quarter. NFC Investments LLC bought a new position in shares of Tiptree during the fourth quarter worth about $416,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Tiptree in the 4th quarter worth about $367,000. Institutional investors own 37.78% of the company’s stock.

Tiptree Trading Down 1.2 %

Tiptree stock traded down $0.19 during mid-day trading on Tuesday, reaching $15.97. The company’s stock had a trading volume of 22,819 shares, compared to its average volume of 114,484. The firm has a market cap of $587.06 million, a price-to-earnings ratio of 50.50 and a beta of 1.19. Tiptree has a twelve month low of $12.12 and a twelve month high of $20.80. The business has a 50 day moving average price of $16.79 and a 200-day moving average price of $17.57.

Tiptree (NASDAQ:TIPT) last posted its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $0.20 EPS for the quarter. Tiptree had a net margin of 0.85% and a return on equity of 11.10%. The business had revenue of $446.37 million during the quarter.

Tiptree Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, March 8th. This is a positive change from Tiptree’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.50%. Tiptree’s dividend payout ratio is 75.00%.

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.