Short Interest in Kingsway Financial Services Inc. (NYSE:KFS) Expands By 7.1%

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 418,100 shares, a growth of 7.1% from the July 31st total of 390,400 shares. Based on an average daily trading volume, of 76,700 shares, the short-interest ratio is presently 5.5 days. Currently, 2.1% of the company’s stock are sold short.

Kingsway Financial Services Price Performance

Kingsway Financial Services stock opened at $8.29 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a 50-day moving average of $8.17 and a 200-day moving average of $8.33. Kingsway Financial Services has a one year low of $6.25 and a one year high of $9.48.

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

Insider Transactions at Kingsway Financial Services

In related 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 sale, the director now owns 640,108 shares of the company’s stock, valued at approximately $5,204,078.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought 1,943 shares of company stock valued at $16,252 over the last three months. Company insiders own 54.75% of the company’s stock.

Institutional Investors Weigh In On Kingsway Financial Services

Large investors have recently made changes to their positions in the stock. Rhumbline Advisers lifted its stake in Kingsway Financial Services by 25.8% in the 2nd quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock valued at $102,000 after purchasing an additional 2,534 shares during the last quarter. Annandale Capital LLC increased its position in Kingsway Financial Services by 2.6% during the second quarter. Annandale Capital LLC now owns 128,200 shares of the insurance provider’s stock worth $1,056,000 after buying an additional 3,200 shares during the last quarter. Belpointe Asset Management LLC raised its stake in Kingsway Financial Services by 0.9% in the second quarter. Belpointe Asset Management LLC now owns 413,593 shares of the insurance provider’s stock valued at $3,408,000 after buying an additional 3,644 shares during the period. BNP Paribas Financial Markets lifted its position 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 buying an additional 6,376 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Kingsway Financial Services by 21.9% in the second quarter. Bank of New York Mellon Corp now owns 37,793 shares of the insurance provider’s stock valued at $311,000 after buying an additional 6,778 shares during the last quarter. Institutional investors and hedge funds own 72.38% of the company’s stock.

Wall Street Analyst Weigh In

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.

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.