Kingsway Financial Services (NYSE:KFS) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Kingsway Financial Services (NYSE:KFS) (TSE:KFS) from a hold rating to a sell rating in a research report released on Monday morning.

Kingsway Financial Services Price Performance

Shares of NYSE:KFS opened at $9.00 on Monday. Kingsway Financial Services has a 52 week low of $7.06 and a 52 week high of $9.58. The company’s 50 day moving average is $8.05 and its two-hundred day moving average is $8.27. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.41 and a quick ratio of 0.41.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last announced its quarterly earnings data on Thursday, May 8th. The insurance provider reported ($0.13) EPS for the quarter. Kingsway Financial Services had a negative net margin of 3.63% and a negative return on equity of 7.83%.

Insider Buying and Selling at Kingsway Financial Services

In other news, Director Joseph Stilwell sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $8.00, for a total value of $8,000,000.00. Following the completion of the transaction, the director now owns 498,937 shares in the company, valued at approximately $3,991,496. This represents a 66.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 53.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in shares of Kingsway Financial Services by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,937 shares of the insurance provider’s stock valued at $50,000 after buying an additional 1,980 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Kingsway Financial Services in the 4th quarter valued at $102,000. Bank of America Corp DE boosted its holdings in shares of Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider’s stock valued at $103,000 after buying an additional 3,300 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Kingsway Financial Services in the 4th quarter valued at $108,000. Finally, Virtu Financial LLC acquired a new position in shares of Kingsway Financial Services in the 1st quarter valued at $132,000. Institutional investors and hedge funds own 72.38% of the company’s stock.

Kingsway Financial Services Company Profile

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.