Kingsway Financial Services Inc. (NYSE:KFS) Sees Significant Increase in Short Interest

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 425,000 shares, a growth of 6.8% from the December 15th total of 398,000 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average trading volume of 43,900 shares, the short-interest ratio is currently 9.7 days.

Kingsway Financial Services Stock Down 1.0 %

Kingsway Financial Services stock traded down $0.09 during trading on Friday, hitting $8.13. The company had a trading volume of 19,695 shares, compared to its average volume of 53,247. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.20. Kingsway Financial Services has a 1-year low of $7.60 and a 1-year high of $9.58. The company’s 50 day simple moving average is $8.52 and its 200-day simple moving average is $8.41.

Insider Transactions at Kingsway Financial Services

In related news, Director Joseph Stilwell sold 365,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $8.43, for a total transaction of $3,076,950.00. Following the completion of the sale, the director now owns 593,743 shares of the company’s stock, valued at approximately $5,005,253.49. This represents a 38.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 1,143 shares of company stock valued at $10,011 over the last ninety days. 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. BNP Paribas Financial Markets boosted its holdings in Kingsway Financial Services by 36.4% in the third quarter. BNP Paribas Financial Markets now owns 6,526 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 1,742 shares in the last quarter. Bard Associates Inc. lifted its position in shares of Kingsway Financial Services by 0.6% during the 3rd quarter. Bard Associates Inc. now owns 288,113 shares of the insurance provider’s stock worth $2,386,000 after buying an additional 1,848 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Kingsway Financial Services by 25.8% during the 2nd quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock worth $102,000 after buying an additional 2,534 shares during the last quarter. Annandale Capital LLC boosted its holdings in shares of Kingsway Financial Services by 2.6% in the 2nd quarter. Annandale Capital LLC now owns 128,200 shares of the insurance provider’s stock valued at $1,056,000 after buying an additional 3,200 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Kingsway Financial Services by 21.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,793 shares of the insurance provider’s stock valued at $311,000 after buying an additional 6,778 shares during the last quarter. 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.