Kingsway Financial Services (NYSE:KWY) Trading 0.2% Higher – Still a Buy?

Kingsway Financial Services Inc (NYSE:KWY)’s stock price rose 0.2% on Thursday . The company traded as high as $9.81 and last traded at $9.67. 31,229 shares traded hands during trading, a decline of 38% from the average session volume of 50,389 shares. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Kingsway Financial Services from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Kingsway Financial Services Stock Down 0.8%

The company has a 50 day moving average price of $9.74 and a two-hundred day moving average price of $10.87. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $276.00 million, a PE ratio of -31.80 and a beta of 0.25.

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

Insider Buying and Selling

In related news, Director Joseph Stilwell sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $10.00, for a total value of $1,000,000.00. Following the sale, the director owned 267,018 shares in the company, valued at approximately $2,670,180. This trade represents a 27.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joshua Horowitz bought 7,034 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $9.84 per share, with a total value of $69,214.56. Following the transaction, the director owned 380,334 shares in the company, valued at $3,742,486.56. This trade represents a 1.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 10,353 shares of company stock valued at $101,997 over the last quarter. Company insiders own 41.41% of the company’s stock.

Hedge Funds Weigh In On Kingsway Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC bought a new stake in shares of Kingsway Financial Services in the second quarter worth $791,000. Citadel Advisors LLC bought a new stake in shares of Kingsway Financial Services during the 2nd quarter valued at about $1,197,000. California State Teachers Retirement System purchased a new stake in shares of Kingsway Financial Services during the 2nd quarter valued at about $296,000. Bank of America Corp DE lifted its stake in shares of Kingsway Financial Services by 6.7% in the 1st quarter. Bank of America Corp DE now owns 46,605 shares of the company’s stock worth $486,000 after purchasing an additional 2,923 shares during the period. Finally, Waverly Advisors LLC purchased a new position in shares of Kingsway Financial Services in the first quarter worth approximately $1,304,000. 72.38% of the stock is currently 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.