Short Interest in Kingstone Companies, Inc. (NASDAQ:KINS) Rises By 27.8%

Kingstone Companies, Inc. (NASDAQ:KINS) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 332,200 shares, an increase of 27.8% from the January 31st total of 260,000 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily volume of 335,900 shares, the days-to-cover ratio is presently 1.0 days.

Kingstone Companies Price Performance

NASDAQ:KINS traded down $0.08 during midday trading on Wednesday, hitting $15.45. The company had a trading volume of 61,498 shares, compared to its average volume of 279,849. The stock’s fifty day moving average price is $16.07 and its 200-day moving average price is $13.09. Kingstone Companies has a 52-week low of $3.60 and a 52-week high of $19.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $190.84 million, a PE ratio of 11.89 and a beta of 0.74.

Insiders Place Their Bets

In related news, Director William L. Yankus sold 10,253 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.18, for a total transaction of $165,893.54. Following the sale, the director now directly owns 91,834 shares in the company, valued at approximately $1,485,874.12. This represents a 10.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.20% of the company’s stock.

Hedge Funds Weigh In On Kingstone Companies

Several institutional investors have recently modified their holdings of KINS. Palisades Investment Partners LLC purchased a new position in Kingstone Companies in the 4th quarter worth $913,000. Squarepoint Ops LLC bought a new stake in shares of Kingstone Companies in the 4th quarter worth approximately $331,000. State of Wyoming purchased a new position in shares of Kingstone Companies during the fourth quarter valued at approximately $103,000. OMERS ADMINISTRATION Corp bought a new position in shares of Kingstone Companies during the fourth quarter valued at approximately $454,000. Finally, Millennium Management LLC boosted its holdings in Kingstone Companies by 155.5% in the fourth quarter. Millennium Management LLC now owns 48,866 shares of the insurance provider’s stock valued at $742,000 after acquiring an additional 29,742 shares in the last quarter. 14.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.