Joseph Stilwell Sells 100,000 Shares of Kingsway Financial Services (NYSE:KWY) Stock

Kingsway Financial Services Inc (NYSE:KWY) Director Joseph Stilwell sold 100,000 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $10.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director owned 267,018 shares in the company, valued at approximately $2,670,180. This represents a 27.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Kingsway Financial Services Stock Performance

Shares of KWY stock opened at $9.81 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 4.39. The firm has a fifty day simple moving average of $9.85 and a two-hundred day simple moving average of $11.23. Kingsway Financial Services Inc has a 12 month low of $8.41 and a 12 month high of $16.51. The firm has a market capitalization of $283.80 million, a PE ratio of -32.70 and a beta of 0.24.

Kingsway Financial Services (NYSE:KWY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter. The business had revenue of $39.44 million during the quarter. Kingsway Financial Services had a negative net margin of 6.69% and a negative return on equity of 61.62%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Kingsway Financial Services has a consensus rating of “Sell”.

Hedge Funds Weigh In On Kingsway Financial Services

A number of hedge funds have recently bought and sold shares of the company. Capricorn Fund Managers Ltd purchased a new position in shares of Kingsway Financial Services in the 1st quarter worth approximately $18,616,000. Greenhaven Road Investment Management L.P. grew its holdings in shares of Kingsway Financial Services by 43.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 1,884,529 shares of the company’s stock valued at $25,347,000 after acquiring an additional 573,993 shares in the last quarter. Waverly Advisors LLC purchased a new stake in shares of Kingsway Financial Services during the first quarter valued at approximately $1,304,000. Vanguard Group Inc. increased its position in shares of Kingsway Financial Services by 12.5% during the third quarter. Vanguard Group Inc. now owns 948,838 shares of the company’s stock valued at $13,872,000 after acquiring an additional 105,080 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Kingsway Financial Services by 20.2% during the second quarter. Geode Capital Management LLC now owns 426,836 shares of the company’s stock worth $5,780,000 after acquiring an additional 71,720 shares during the period. 72.38% of the stock is owned by hedge funds and other institutional investors.

About Kingsway Financial Services

Kingsway Financial Services Inc is a holding company that operates through a group of subsidiaries focused on extended warranty and specialty insurance-related services. The company’s businesses primarily provide administration, underwriting, and related support services for protection products offered through automotive, consumer, and other markets.

Kingsway has historically operated in the insurance and service contract space, with activities centered on helping businesses and consumers manage risk and protection coverage needs.