Kingsway Financial Services (NYSE:KFS) Stock Price Passes Above Two Hundred Day Moving Average of $8.42

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.42 and traded as high as $8.67. Kingsway Financial Services shares last traded at $8.48, with a volume of 120,443 shares traded.

Wall Street Analysts Forecast Growth

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

Kingsway Financial Services Price Performance

The firm has a 50-day moving average price of $8.15 and a 200-day moving average price of $8.42. 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 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 return on equity of 24.36% and a negative net margin of 6.57%. The firm had revenue of $26.16 million during the quarter.

Insider Activity at Kingsway Financial Services

In related news, Director Joseph Stilwell sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.13, for a total transaction of $813,000.00. Following the completion of the transaction, the director now owns 640,108 shares of the company’s stock, valued at approximately $5,204,078.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased a total of 2,431 shares of company stock valued at $20,306 in the last 90 days. Corporate insiders own 54.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its position in Kingsway Financial Services by 193.0% during the 1st quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock valued at $81,000 after buying an additional 6,376 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 worth $311,000 after purchasing an additional 6,778 shares in the last quarter. Strs Ohio increased its holdings in shares of Kingsway Financial Services by 34.5% in the 4th quarter. Strs Ohio now owns 59,300 shares of the insurance provider’s stock worth $498,000 after purchasing an additional 15,200 shares in the last quarter. Swedbank AB bought a new stake in shares of Kingsway Financial Services in the 1st quarter worth $2,085,000. Finally, Greenhaven Road Investment Management L.P. increased its holdings 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 purchasing an additional 83,641 shares in the last quarter. Institutional investors 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.