In December, there was a sizeable drop in the total number of short positions held in Tiptree Inc. (NASDAQ: TIPT). Compared to the 239,700 shares that were sold short on November 30, 177,800 were sold short as of December 15. This represents a decrease of 25.8% from the number of shares sold short on November 30. Based on an average daily trading volume of 69,100 shares, the days-to-cover ratio has reached its current level of 2.6 days. This is the number that was arrived at. There are currently short sales on the market that amount to 0.8% of the company’s total shares.
In addition, the business recently announced and paid a quarterly dividend, which took place on November 28. Shareholders who were “on record” as of Monday, November 21, were eligible to receive a dividend payment of $0.04 per share. As a final result, an annual dividend payment of $0.16 will be made, and the yield will end up being 1.16%. This dividend was considered to have been paid out to shareholders as of November 18, the previous Friday. Currently, the payout ratio for Tiptree is 53.33 percent, which is negative.
On Friday, during the lunchtime trading session, the price of a share of TIPT fell by $0.06, bringing it to $13.84 per share. The normal volume of the company’s shares is 64,724, but the number of times they were traded was 61,535, which is lower than its normal volume. In addition, the number of times the company’s shares were traded was 61,535, which is lower than its normal volume. The company’s simple moving average for the past 50 days is 13.43 dollars, and its simple moving average for the past 200 days is 12 dollars. Currently, the company has a beta of 1.13 and is valued at $501.74 million by the market. The price-to-earnings ratio currently sits at -46.33. During that period, the price of Tiptree went as low as $9.84 and as high as $15.17, representing both a one-year low of $9.84 and an all-time high.
A research note published by StockNews.com on November 4 included a recommendation for shares of Tiptree that was labeled as a “strong buy.” This is a separate development from the previous one.
Recent deals involving the company’s shares involved institutional buyers and sellers. During the first three months of 2018, the value of the assets owned by Cannell Capital LLC, located in Tiptree, rose by 363.2%. Following the acquisition of an additional 225,030 shares during the most recent quarter, Cannell Capital LLC now holds 286,985 shares of the company’s stock, which has a value of $3,688,000. During the third quarter, Point72 Asset Management L.P. completed a 61.3% increase in Tiptree stock in its portfolio. Point72 Asset Management L.P. now directly owns a total of 273,021 shares of the publicly traded company that provides financial services with a market value of $2,938,000 following the acquisition of 103,800 additional shares during the most recent fiscal quarter. The market value of these shares is currently $2,938,000. During the first three months of 2018, the value of Ancora Advisors LLC’s investment in Tiptree increased by 77.7%. Ancora Advisors LLC now has a total of 163,583 stock held by the financial services provider after the acquisition of an additional 71,537 shares during the most recent quarter. The current market value of Ancora Advisors LLC’s stock holdings is equal to a sum of $1,464,000. The value of Royce & Associates LP’s holdings in Tiptree rose by 11.4% during the second quarter due to the company’s investment. Royce & Associates LP has a total of 681,452 shares of the company, which has a market cap of $7,237,000, following the acquisition of an additional 69,676 shares during the most recent quarter. The market cap of the company is currently $7,237,000. And finally, during the first three months of this year, Goldman Sachs Group Inc. increased the amount of Tiptree stock owned by 37.3%, bringing its total ownership to 100%. Goldman Sachs Group Inc. now has a total of 214,191 shares of the financial services provider’s stock after purchasing an additional 58,237 shares during the most recent quarter. Based on the current market price of the stock, Goldman Sachs Group Inc.’s holdings have an estimated value of $2,752,000. Institutional investors currently own 33.59% of the company’s stock. These investors include those who are associated with hedge funds.
Most of Tiptree Inc.’s subsidiaries, located in the United States, are responsible for the underwriting and management of specialty insurance products. These activities take place in the United States. Mortgage lending and insurance underwriting are the two divisions that make up the business entity known as the company. It offers commercial and personal lines insurance, warranty, and service contract goods and solutions. Additionally, it offers premium finance services, credit insurance, and collateral protection, warranty and service contract goods and solutions, and credit insurance and collateral protection.
Short interest in Tiptree Inc. (NASDAQ:TIPT) fell by 25.8% in December.
