Tiptree Inc. (NASDAQ:TIPT) Short Interest Down 33.5% in December

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

Analyst Ratings Changes

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

Tiptree Stock Up 0.1 %

TIPT stock traded up $0.03 during trading hours on Thursday, hitting $20.06. The company’s stock had a trading volume of 129,698 shares, compared to its average volume of 95,049. The stock has a 50 day moving average price of $21.23 and a two-hundred day moving average price of $19.76. Tiptree has a 12 month low of $14.96 and a 12 month high of $24.09. The company has a market capitalization of $743.24 million, a PE ratio of 20.68 and a beta of 1.32.

Tiptree Dividend Announcement

The firm also recently announced a special dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 11th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 11th. Tiptree’s payout ratio is 24.74%.

Institutional Trading of Tiptree

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC bought a new position in shares of Tiptree in the 3rd quarter valued at approximately $56,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tiptree in the third quarter valued at approximately $85,000. FMR LLC raised its position in shares of Tiptree by 43.1% in the third quarter. FMR LLC now owns 4,449 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,339 shares during the period. Quest Partners LLC acquired a new stake in shares of Tiptree in the third quarter worth $149,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Tiptree during the 2nd quarter worth $176,000. Institutional investors and hedge funds own 37.78% of the company’s stock.

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.