Capricorn Fund Managers Ltd Buys New Position in Kingsway Financial Services Inc $KWY

Capricorn Fund Managers Ltd bought a new stake in shares of Kingsway Financial Services Inc (NYSE:KWY) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,784,893 shares of the company’s stock, valued at approximately $18,616,000. Kingsway Financial Services makes up 2.9% of Capricorn Fund Managers Ltd’s holdings, making the stock its 7th biggest position. Capricorn Fund Managers Ltd owned 6.17% of Kingsway Financial Services at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mirabella Financial Services LLP lifted its holdings in Kingsway Financial Services by 13.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 2,189,905 shares of the company’s stock valued at $32,016,000 after acquiring an additional 255,319 shares during the last quarter. Greenhaven Road Investment Management L.P. grew its stake in shares of Kingsway Financial Services by 43.8% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 1,884,529 shares of the company’s stock worth $25,347,000 after purchasing an additional 573,993 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Kingsway Financial Services by 12.5% in the 3rd quarter. Vanguard Group Inc. now owns 948,838 shares of the company’s stock worth $13,872,000 after purchasing an additional 105,080 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Kingsway Financial Services by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 470,407 shares of the company’s stock worth $6,329,000 after purchasing an additional 10,143 shares in the last quarter. Finally, State Street Corp lifted its stake in Kingsway Financial Services by 4.4% during the fourth quarter. State Street Corp now owns 286,318 shares of the company’s stock valued at $3,851,000 after purchasing an additional 12,021 shares during the last quarter. 72.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Kingsway Financial Services Trading Up 1.2%

Shares of KWY opened at $10.43 on Wednesday. The business’s 50-day moving average price is $10.64 and its 200 day moving average price is $12.23. The stock has a market capitalization of $301.95 million, a P/E ratio of -26.07 and a beta of 0.23. Kingsway Financial Services Inc has a 1-year low of $9.80 and a 1-year high of $16.80. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.56.

Kingsway Financial Services (NYSE:KWY) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter. Kingsway Financial Services had a negative return on equity of 72.50% and a negative net margin of 8.83%.The company had revenue of $38.96 million for the quarter.

Insider Activity at Kingsway Financial Services

In other news, Director Joshua Horowitz purchased 3,800 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $9.91 per share, for a total transaction of $37,658.00. Following the completion of the acquisition, the director directly owned 372,000 shares of the company’s stock, valued at $3,686,520. The trade was a 1.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $10.13, for a total transaction of $50,650.00. Following the completion of the sale, the chief executive officer owned 29,100 shares of the company’s stock, valued at approximately $294,783. This trade represents a 14.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders bought 5,430 shares of company stock worth $54,637. 41.41% of the stock is currently owned by insiders.

Kingsway Financial Services Profile

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.