Tiptree Inc (NASDAQ:TIPT) major shareholder Arif Inayatullah acquired 70,000 shares of the stock in a transaction on Wednesday, November 21st. The stock was bought at an average cost of $7.06 per share, for a total transaction of $494,200.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Tiptree Inc (NASDAQ:TIPT) traded up $0.05 during midday trading on Friday, hitting $6.20. 6,200 shares of the stock traded hands, compared to its average volume of 10,000. Tiptree Inc has a one year low of $5.70 and a one year high of $7.60. The company has a market capitalization of $230.91, a price-to-earnings ratio of 310.00 and a beta of -0.40.
Several hedge funds and other institutional investors have recently bought and sold shares of TIPT. Tricadia Capital Management LLC raised its position in shares of Tiptree by 32.5% in the second quarter. Tricadia Capital Management LLC now owns 6,004,948 shares of the financial services provider’s stock valued at $42,335,000 after purchasing an additional 1,472,400 shares during the period. TCW Group Inc. raised its position in shares of Tiptree by 25.9% in the third quarter. TCW Group Inc. now owns 839,419 shares of the financial services provider’s stock valued at $5,246,000 after purchasing an additional 172,501 shares during the period. LSV Asset Management bought a new stake in shares of Tiptree in the second quarter valued at approximately $322,000. ZPR Investment Management bought a new stake in shares of Tiptree in the second quarter valued at approximately $162,000. Finally, State Street Corp raised its position in shares of Tiptree by 5.7% in the second quarter. State Street Corp now owns 397,363 shares of the financial services provider’s stock valued at $2,801,000 after purchasing an additional 21,556 shares during the period. 51.59% of the stock is currently owned by institutional investors.
Tiptree Inc, formerly Tiptree Financial Inc, is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). It operates through four segments: specialty insurance, asset management, senior living and specialty finance.
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