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

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 305,400 shares, a drop 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 presently 5.3 days. Approximately 1.5% of the company’s shares are sold short.

Insiders Place Their Bets

In other Kingsway Financial Services news, Director Joseph Stilwell sold 100,000 shares of Kingsway Financial Services stock in a transaction that occurred on Friday, June 28th. The stock was 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 directly owns 640,108 shares in the company, valued at $5,204,078.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 2,434 shares of company stock worth $20,307. Company insiders own 54.75% of the company’s stock.

Hedge Funds Weigh In On Kingsway Financial Services

Several large investors have recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in Kingsway Financial Services during the first quarter worth about $2,085,000. Vanguard Group Inc. boosted its stake 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. BNP Paribas Financial Markets grew its holdings in shares of Kingsway Financial Services by 193.0% in the first quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock valued at $81,000 after acquiring an additional 6,376 shares in the last quarter. Greenhaven Road Investment Management L.P. grew its holdings 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 acquiring an additional 83,641 shares in the last quarter. Finally, Wasatch Advisors LP increased its position in shares of Kingsway Financial Services by 14.6% during the fourth 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. Institutional investors own 72.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Kingsway Financial Services Price Performance

Shares of NYSE:KFS traded up $0.07 during trading on Wednesday, reaching $8.29. 437 shares of the stock were exchanged, compared to its average volume of 46,613. Kingsway Financial Services has a 1-year low of $6.25 and a 1-year high of $9.48. The stock has a fifty day moving average of $8.24 and a two-hundred day moving average of $8.43. 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 (NYSE:KFS) (TSE:KFS) last announced its quarterly earnings results on Wednesday, May 8th. The insurance provider reported ($0.08) EPS for the quarter. The business had revenue of $26.16 million for the quarter. Kingsway Financial Services had a negative net margin of 6.57% and a negative return on equity of 24.36%.

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.