Kingsway Financial Services (NYSE:KFS) Cut to Sell at StockNews.com

Kingsway Financial Services (NYSE:KFSGet Free Report) (TSE:KFS) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Kingsway Financial Services Stock Performance

NYSE:KFS opened at $8.04 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.57 and a quick ratio of 0.57. Kingsway Financial Services has a fifty-two week low of $6.25 and a fifty-two week high of $9.48. The company has a 50 day simple moving average of $8.39 and a two-hundred day simple moving average of $8.34.

Kingsway Financial Services (NYSE:KFSGet Free Report) (TSE:KFS) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported ($0.08) EPS for the quarter. Kingsway Financial Services had a negative net margin of 6.57% and a negative return on equity of 24.36%. The firm had revenue of $26.16 million during the quarter.

Insiders Place Their Bets

In other news, Director Joseph Stilwell sold 7,300 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $8.76, for a total transaction of $63,948.00. Following the completion of the sale, the director now owns 648,797 shares of the company’s stock, valued at approximately $5,683,461.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders acquired 1,903 shares of company stock worth $16,242. Company insiders own 54.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its position in shares of Kingsway Financial Services by 333.4% during the third quarter. Belpointe Asset Management LLC now owns 421,878 shares of the insurance provider’s stock worth $3,185,000 after purchasing an additional 324,534 shares during the period. Strs Ohio increased its stake in Kingsway Financial Services by 34.5% during the 4th quarter. Strs Ohio now owns 59,300 shares of the insurance provider’s stock valued at $498,000 after purchasing an additional 15,200 shares in the last quarter. Wasatch Advisors LP raised its holdings in Kingsway Financial Services by 14.6% during the fourth quarter. Wasatch Advisors LP now owns 828,552 shares of the insurance provider’s stock worth $6,960,000 after buying an additional 105,751 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its stake in shares of Kingsway Financial Services by 26.2% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock valued at $3,388,000 after buying an additional 83,641 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Kingsway Financial Services by 193.0% during the first quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock valued at $81,000 after buying an additional 6,376 shares during the last quarter. Institutional investors own 72.38% of the company’s stock.

Kingsway Financial Services Company Profile

(Get Free Report)

Kingsway Financial Services Inc, through its subsidiaries, engages in the extended warranty and business services in the United States. The company operates through two segments, Extended Warranty and Kingsway Search Xcelerator. The Extended Warranty segment markets, sells, and administers vehicle service agreements and related products for new and used automobiles, motorcycles, and ATVs.

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