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

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. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 57,200 shares, the short-interest ratio is currently 5.3 days.

Kingsway Financial Services Stock Up 0.9 %

Shares of NYSE:KFS traded up $0.07 during mid-day trading on Wednesday, reaching $8.29. The stock had a trading volume of 437 shares, compared to its average volume of 46,613. The business’s 50 day moving average price is $8.24 and its 200 day moving average price is $8.43. Kingsway Financial Services has a 1 year low of $6.25 and a 1 year high of $9.48. 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 released its quarterly earnings data on Wednesday, May 8th. The insurance provider reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $26.16 million during the quarter. Kingsway Financial Services had a negative return on equity of 24.36% and a negative net margin of 6.57%.

Insider Activity

In related news, Director Joseph Stilwell sold 100,000 shares of the stock in a transaction dated 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 sale, the director now owns 640,108 shares in the company, valued at $5,204,078.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought 2,434 shares of company stock worth $20,307 in the last three months. Company insiders own 54.75% of the company’s stock.

Institutional Investors Weigh In On Kingsway Financial Services

A number of hedge funds have recently bought and sold shares of KFS. Belpointe Asset Management LLC boosted its stake in Kingsway Financial Services by 333.4% during the third quarter. Belpointe Asset Management LLC now owns 421,878 shares of the insurance provider’s stock worth $3,185,000 after buying an additional 324,534 shares during the period. Swedbank AB bought a new stake in shares of Kingsway Financial Services in the 1st quarter worth about $2,085,000. Wasatch Advisors LP boosted its stake in shares of Kingsway Financial Services by 14.6% during the 4th quarter. Wasatch Advisors LP now owns 828,552 shares of the insurance provider’s stock worth $6,960,000 after purchasing an additional 105,751 shares during the period. Greenhaven Road Investment Management L.P. grew its holdings 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, Strs Ohio raised its position in 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 during the period. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Analysts Set New Price Targets

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

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.