Kingsway Financial Services Inc. (NYSE:KFS) Short Interest Update

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totalling 305,400 shares, a decline of 6.1% from the May 31st total of 325,100 shares. Based on an average trading volume of 57,200 shares, the short-interest ratio is currently 5.3 days. Approximately 1.5% of the company’s stock are short sold.

Kingsway Financial Services Stock Performance

Shares of Kingsway Financial Services stock traded down $0.22 on Wednesday, hitting $8.00. 46,391 shares of the company’s stock traded hands, compared to its average volume of 46,975. Kingsway Financial Services has a 52-week low of $6.25 and a 52-week high of $9.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.57. The firm’s 50-day moving average is $8.24 and its 200 day moving average is $8.43.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported ($0.08) earnings per share (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 company had revenue of $26.16 million during the quarter.

Analyst Ratings Changes

Separately, StockNews.com cut Kingsway Financial Services from a “hold” rating to a “sell” rating in a research note on Friday, June 14th.

Insider Buying and Selling

In other Kingsway Financial Services news, Director Joseph Stilwell sold 100,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $8.13, for a total value of $813,000.00. Following the completion of the sale, the director now owns 640,108 shares of the company’s stock, valued at $5,204,078.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 2,434 shares of company stock valued at $20,307. Corporate insiders own 54.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP boosted its stake in Kingsway Financial Services by 14.6% during the 4th quarter. Wasatch Advisors LP now owns 828,552 shares of the insurance provider’s stock valued at $6,960,000 after acquiring an additional 105,751 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Kingsway Financial Services by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 487,353 shares of the insurance provider’s stock worth $4,065,000 after buying an additional 14,981 shares during the last quarter. Belpointe Asset Management LLC lifted its position in shares of Kingsway Financial Services by 333.4% in the 3rd quarter. Belpointe Asset Management LLC now owns 421,878 shares of the insurance provider’s stock worth $3,185,000 after buying an additional 324,534 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its position in shares of Kingsway Financial Services by 26.2% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock worth $3,388,000 after buying an additional 83,641 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Kingsway Financial Services in the 1st quarter worth about $2,085,000. 72.38% of the stock is currently owned by institutional investors.

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.