Short Interest in Kingsway Financial Services Inc. (NYSE:KFS) Declines By 6.1%

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) was the recipient of a large decline in short interest in the month of 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 daily volume of 57,200 shares, the short-interest ratio is currently 5.3 days. Currently, 1.5% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

Insider Transactions at Kingsway Financial Services

In other news, Director Joseph Stilwell sold 100,000 shares of the business’s 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 transaction, the director now owns 640,108 shares in the company, valued at approximately $5,204,078.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have bought 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

A number of hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB acquired a new position in Kingsway Financial Services during the 1st quarter valued at about $2,085,000. Vanguard Group Inc. boosted its stake in Kingsway Financial Services by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 487,353 shares of the insurance provider’s stock valued at $4,065,000 after purchasing an additional 14,981 shares during the last quarter. BNP Paribas Financial Markets boosted its stake 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 purchasing an additional 6,376 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its stake in Kingsway Financial Services by 26.2% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock valued at $3,388,000 after purchasing an additional 83,641 shares during the last quarter. Finally, 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 purchasing an additional 105,751 shares during the last quarter. Institutional investors and hedge funds own 72.38% of the company’s stock.

Kingsway Financial Services Price Performance

Shares of Kingsway Financial Services stock opened at $7.99 on Thursday. Kingsway Financial Services has a one year low of $6.25 and a one year high of $9.48. The business has a 50-day simple moving average of $8.22 and a 200 day simple moving average of $8.43. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.66.

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

About Kingsway Financial Services

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.