Heartland Advisors Inc. Acquires 84,155 Shares of Tiptree Financial Inc. $TIPT

Heartland Advisors Inc. boosted its stake in shares of Tiptree Financial Inc. (NASDAQ:TIPT) by 28.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 384,155 shares of the financial services provider’s stock after acquiring an additional 84,155 shares during the period. Heartland Advisors Inc. owned 1.02% of Tiptree Financial worth $7,364,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada increased its position in Tiptree Financial by 8.3% during the first quarter. Royal Bank of Canada now owns 10,107 shares of the financial services provider’s stock valued at $243,000 after acquiring an additional 775 shares during the last quarter. AQR Capital Management LLC bought a new position in Tiptree Financial during the 1st quarter valued at about $424,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tiptree Financial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,055 shares of the financial services provider’s stock valued at $363,000 after purchasing an additional 624 shares during the last quarter. Millennium Management LLC raised its position in Tiptree Financial by 43.3% in the 1st quarter. Millennium Management LLC now owns 167,964 shares of the financial services provider’s stock worth $4,046,000 after purchasing an additional 50,738 shares during the period. Finally, Empowered Funds LLC lifted its stake in Tiptree Financial by 1.9% in the first quarter. Empowered Funds LLC now owns 120,640 shares of the financial services provider’s stock worth $2,906,000 after purchasing an additional 2,227 shares during the last quarter. 37.78% of the stock is currently owned by hedge funds and other institutional investors.

Tiptree Financial Stock Performance

NASDAQ:TIPT opened at $17.67 on Tuesday. The firm has a 50-day simple moving average of $17.82 and a 200-day simple moving average of $19.41. Tiptree Financial Inc. has a one year low of $17.07 and a one year high of $27.41. The firm has a market cap of $668.28 million, a P/E ratio of 16.06 and a beta of 1.22.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TIPT shares. Wall Street Zen downgraded Tiptree Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tiptree Financial in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Tiptree Financial presently has a consensus rating of “Hold”.

Tiptree Financial Company Profile

Tiptree Financial, Inc (NASDAQ: TIPT) is a specialty finance company that provides working capital solutions to small and medium-sized enterprises. Through its wholly owned subsidiary, Tiptree Finance LLC, the company focuses on asset-based lending, accounts receivable financing, and supply chain finance. Tiptree’s model is designed to help businesses manage cash flow, support growth initiatives, and optimize their balance sheets by unlocking liquidity tied up in receivables and inventory.

The company’s core services include invoice factoring and purchase order financing.