1060 Capital LLC Acquires New Stake in Kingsway Financial Services, Inc. $KFS

1060 Capital LLC bought a new position in shares of Kingsway Financial Services, Inc. (NYSE:KFS) (TSE:KFS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 75,400 shares of the insurance provider’s stock, valued at approximately $1,021,000. Kingsway Financial Services makes up 2.1% of 1060 Capital LLC’s holdings, making the stock its 10th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Greenhaven Road Investment Management L.P. boosted its position in shares of Kingsway Financial Services by 73.4% during the 2nd quarter. Greenhaven Road Investment Management L.P. now owns 1,310,536 shares of the insurance provider’s stock valued at $17,745,000 after acquiring an additional 554,891 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Kingsway Financial Services by 11.2% in the first quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider’s stock worth $811,000 after purchasing an additional 10,350 shares during the last quarter. Mirabella Financial Services LLP raised its stake in Kingsway Financial Services by 10.4% in the second quarter. Mirabella Financial Services LLP now owns 1,934,586 shares of the insurance provider’s stock valued at $26,194,000 after purchasing an additional 182,496 shares in the last quarter. Nuveen LLC bought a new stake in Kingsway Financial Services during the first quarter valued at approximately $139,000. Finally, Virtu Financial LLC purchased a new position in Kingsway Financial Services in the 1st quarter worth approximately $132,000. 72.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Kingsway Financial Services in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Kingsway Financial Services Stock Performance

NYSE:KFS opened at $12.65 on Thursday. The company has a market capitalization of $366.20 million, a price-to-earnings ratio of -35.13 and a beta of 0.32. The business has a 50 day moving average of $13.82 and a 200 day moving average of $13.98. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.39. Kingsway Financial Services, Inc. has a 1-year low of $7.06 and a 1-year high of $16.80.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last announced its quarterly earnings data on Thursday, November 6th. The insurance provider reported ($0.10) earnings per share for the quarter. Kingsway Financial Services had a negative return on equity of 76.94% and a negative net margin of 8.55%.

Insiders Place Their Bets

In other Kingsway Financial Services news, Director Joseph Stilwell sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $12.80, for a total transaction of $256,000.00. Following the completion of the sale, the director directly owned 646,904 shares in the company, valued at $8,280,371.20. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have acquired 871 shares of company stock valued at $12,494 and have sold 123,000 shares valued at $1,687,260. 53.83% of the stock is owned by corporate insiders.

Kingsway Financial Services Profile

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.