Kingsway Financial Services (NYSE:KFS) Stock Passes Above 200-Day Moving Average – Here’s Why

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.25 and traded as high as $9.07. Kingsway Financial Services shares last traded at $9.04, with a volume of 5,514 shares.

Kingsway Financial Services Price Performance

The firm has a 50-day moving average of $8.20 and a two-hundred day moving average of $8.25. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.80.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last posted its earnings results on Tuesday, August 6th. The insurance provider reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $26.45 million during the quarter. Kingsway Financial Services had a negative net margin of 7.45% and a negative return on equity of 24.54%.

Institutional Investors Weigh In On Kingsway Financial Services

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its position in shares of 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. Rhumbline Advisers raised its position in Kingsway Financial Services by 25.8% during the second quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock worth $102,000 after acquiring an additional 2,534 shares during the period. DHK Financial Advisors Inc. acquired a new stake in shares of Kingsway Financial Services in the second quarter valued at about $303,000. Bank of New York Mellon Corp increased its stake in shares of Kingsway Financial Services by 21.9% during the second 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. Finally, Annandale Capital LLC raised its position in shares of Kingsway Financial Services by 2.6% during the 2nd quarter. Annandale Capital LLC now owns 128,200 shares of the insurance provider’s stock worth $1,056,000 after purchasing an additional 3,200 shares during the last quarter. 72.38% of the stock is currently owned by institutional investors and hedge funds.

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.