Insider Buying: Tiptree Inc (NASDAQ:TIPT) Chairman Purchases 12,000 Shares of Stock

Tiptree Inc (NASDAQ:TIPT) Chairman Michael Gene Barnes bought 12,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of $5.79 per share, for a total transaction of $69,480.00. Following the completion of the transaction, the chairman now owns 8,436,906 shares of the company’s stock, valued at $48,849,685.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Michael Gene Barnes also recently made the following trade(s):

  • On Wednesday, June 24th, Michael Gene Barnes purchased 19,236 shares of Tiptree stock. The shares were acquired at an average price of $5.76 per share, with a total value of $110,799.36.
  • On Monday, June 22nd, Michael Gene Barnes purchased 2,545 shares of Tiptree stock. The shares were acquired at an average price of $5.81 per share, with a total value of $14,786.45.
  • On Thursday, June 18th, Michael Gene Barnes purchased 20,088 shares of Tiptree stock. The shares were acquired at an average price of $5.79 per share, with a total value of $116,309.52.
  • On Thursday, June 11th, Michael Gene Barnes purchased 1,080 shares of Tiptree stock. The shares were acquired at an average price of $5.83 per share, with a total value of $6,296.40.
  • On Wednesday, May 13th, Michael Gene Barnes purchased 3,214 shares of Tiptree stock. The shares were acquired at an average price of $5.75 per share, with a total value of $18,480.50.
  • On Monday, May 11th, Michael Gene Barnes purchased 90 shares of Tiptree stock. The shares were acquired at an average price of $5.83 per share, with a total value of $524.70.
  • On Wednesday, May 6th, Michael Gene Barnes purchased 6,780 shares of Tiptree stock. The shares were acquired at an average price of $6.28 per share, with a total value of $42,578.40.
  • On Monday, May 4th, Michael Gene Barnes bought 3,390 shares of Tiptree stock. The stock was purchased at an average price of $6.04 per share, with a total value of $20,475.60.
  • On Thursday, April 30th, Michael Gene Barnes bought 5,724 shares of Tiptree stock. The stock was purchased at an average price of $5.99 per share, with a total value of $34,286.76.
  • On Tuesday, April 28th, Michael Gene Barnes bought 5,724 shares of Tiptree stock. The stock was purchased at an average price of $6.42 per share, with a total value of $36,748.08.

Shares of NASDAQ:TIPT traded up $0.13 during trading on Tuesday, reaching $6.22. The stock had a trading volume of 105 shares, compared to its average volume of 68,698. Tiptree Inc has a 52 week low of $4.45 and a 52 week high of $8.30. The business’s 50-day moving average price is $6.13 and its 200 day moving average price is $6.51. The stock has a market capitalization of $206.61 million, a PE ratio of -4.54 and a beta of 0.54.

Tiptree (NASDAQ:TIPT) last posted its earnings results on Thursday, May 7th. The financial services provider reported ($1.74) earnings per share (EPS) for the quarter. Tiptree had a negative net margin of 6.34% and a negative return on equity of 11.61%. The firm had revenue of $129.67 million during the quarter.

Hedge funds have recently bought and sold shares of the stock. Citigroup Inc. raised its position in Tiptree by 119.9% in the 1st quarter. Citigroup Inc. now owns 11,580 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 6,314 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Tiptree by 25.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 210,602 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 43,361 shares during the last quarter. Bank of New York Mellon Corp raised its position in Tiptree by 4.9% in the 1st quarter. Bank of New York Mellon Corp now owns 124,128 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 5,778 shares during the last quarter. Geode Capital Management LLC raised its position in Tiptree by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 313,663 shares of the financial services provider’s stock worth $2,553,000 after purchasing an additional 8,868 shares during the last quarter. Finally, Mackay Shields LLC raised its position in Tiptree by 58.2% in the 4th quarter. Mackay Shields LLC now owns 57,358 shares of the financial services provider’s stock worth $466,000 after purchasing an additional 21,100 shares during the last quarter. Hedge funds and other institutional investors own 33.94% of the company’s stock.

Separately, TheStreet cut shares of Tiptree from a “c” rating to a “d+” rating in a research note on Friday, May 22nd.

Tiptree Company Profile

Tiptree Inc, through its subsidiaries, underwrites and administers specialty insurance products primarily in the United States. The company provides credit protection insurance, warranty and service contract products, and niche commercial and consumer insurance programs, as well as offers value-add services, including premium finance and business processing services.

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Insider Buying and Selling by Quarter for Tiptree (NASDAQ:TIPT)

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