Short Interest in Tiptree Inc. (NASDAQ:TIPT) Drops By 33.5%

Tiptree Inc. (NASDAQ:TIPT) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 124,800 shares, a decrease of 33.5% from the December 15th total of 187,700 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 80,700 shares, the days-to-cover ratio is presently 1.5 days.

Tiptree Price Performance

NASDAQ TIPT remained flat at $20.03 on Thursday. The company’s stock had a trading volume of 148,607 shares, compared to its average volume of 97,591. The firm has a 50-day simple moving average of $21.23 and a 200 day simple moving average of $19.76. Tiptree has a 1 year low of $14.96 and a 1 year high of $24.09. The company has a market capitalization of $742.31 million, a P/E ratio of 20.65 and a beta of 1.32.

Tiptree Announces Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 11th were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 11th. Tiptree’s payout ratio is 24.74%.

Institutional Investors Weigh In On Tiptree

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new position in shares of Tiptree in the third quarter valued at approximately $56,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tiptree during the 3rd quarter worth $85,000. FMR LLC boosted its holdings 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 acquiring an additional 1,339 shares during the period. Quest Partners LLC bought a new stake in Tiptree during the third quarter valued at about $149,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Tiptree in the second quarter valued at about $176,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.