Kingsway Financial Services (NYSE:KFS) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Kingsway Financial Services (NYSE:KFS) (TSE:KFS) from a hold rating to a sell rating in a research note released on Wednesday.

Kingsway Financial Services Stock Up 4.3%

Shares of KFS stock opened at $11.79 on Wednesday. Kingsway Financial Services has a 12-month low of $7.06 and a 12-month high of $11.85. The firm has a 50-day moving average price of $8.60 and a 200 day moving average price of $8.37. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.41 and a quick ratio of 0.41.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last announced its earnings results on Thursday, May 8th. The insurance provider reported ($0.13) EPS for the quarter. Kingsway Financial Services had a negative return on equity of 7.83% and a negative net margin of 3.63%.

Insider Transactions at Kingsway Financial Services

In other news, Director Joseph Stilwell sold 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $8.00, for a total value of $8,000,000.00. Following the transaction, the director now directly owns 498,937 shares of the company’s stock, valued at $3,991,496. The trade was a 66.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 53.83% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirabella Financial Services LLP acquired a new position in shares of Kingsway Financial Services in the 4th quarter worth approximately $13,392,000. Greenhaven Road Investment Management L.P. lifted its holdings in Kingsway Financial Services by 47.9% during the 1st quarter. Greenhaven Road Investment Management L.P. now owns 755,645 shares of the insurance provider’s stock worth $5,985,000 after buying an additional 244,585 shares in the last quarter. Bard Associates Inc. lifted its holdings in Kingsway Financial Services by 2.8% during the 4th quarter. Bard Associates Inc. now owns 296,059 shares of the insurance provider’s stock worth $2,478,000 after buying an additional 7,946 shares in the last quarter. Northern Trust Corp lifted its holdings in Kingsway Financial Services by 9.8% during the 4th quarter. Northern Trust Corp now owns 141,751 shares of the insurance provider’s stock worth $1,186,000 after buying an additional 12,691 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Kingsway Financial Services by 11.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider’s stock worth $811,000 after buying an additional 10,350 shares in the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.

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.