Tiptree: Fortegra IPO Coming

Nov. 02, 2023 4:14 PM ETTiptree Inc. (TIPT) StockTIPT12 Comments

Summary

  • Tiptree reported strong Q3 earnings, with adjusted net earnings of $24 million.
  • Fortegra continues to be the main driver of Tiptree's success, with earnings of $30 million and a 31.2% ROAE.
  • Tiptree plans to IPO Fortegra, potentially valuing the company at around $2 billion and unlocking potentially 100% upside for shareholders.
  • This idea was discussed in more depth with members of my private investing community, Catalyst Hedge Investing. Learn More »
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AndreyPopov

Tiptree Q3 Update:

Tiptree (NASDAQ:TIPT) reported another sensational operating quarter last night (11/1). GAAP earnings came in at $2.1 million or $0.04 per share. GAAP net income, as I've discussed in previous write ups, is weighed down by accounting treatment of amortization related to Warburg's minority

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This article was written by

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Cashfow Hunter has over 25 years of experience in the markets, with nearly 20 of them as a hedge fund portfolio manager. His experience investing in debt and equity markets gives him unique insights into markets. He successfully predicted the implosion of Silicon Valley Bank. He has degrees from Wharton and MIT.

He leads the investing group Catalyst Hedge Investing, in which he shares his best long and short ideas. He looks for investment ideas with asymmetric risk/reward and a clear catalyst. Learn More.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of TIPT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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