Kingsway Financial Services (NYSE:KWY) Stock Price Down 3.4% – Here’s Why

Kingsway Financial Services Inc (NYSE:KWY) shares fell 3.4% during mid-day trading on Wednesday . The company traded as low as $8.95 and last traded at $8.98. 82,681 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 81,558 shares. The stock had previously closed at $9.30.

Analyst Ratings Changes

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

Kingsway Financial Services Stock Down 3.4%

The business has a fifty day moving average price of $10.21 and a two-hundred day moving average price of $11.70. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.56. The company has a market cap of $259.97 million, a price-to-earnings ratio of -22.45 and a beta of 0.23.

Kingsway Financial Services (NYSE:KWY) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) 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.

Insiders Place Their Bets

In other Kingsway Financial Services news, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $10.13, for a total value of $50,650.00. Following the transaction, the chief executive officer directly owned 29,100 shares of the company’s stock, valued at $294,783. This represents a 14.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joshua Horowitz purchased 3,800 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $9.91 per share, with a total value of $37,658.00. Following the completion of the purchase, the director directly owned 372,000 shares in the company, valued at approximately $3,686,520. This represents a 1.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 5,458 shares of company stock valued at $54,634. Insiders own 41.41% of the company’s stock.

Institutional Investors Weigh In On Kingsway Financial Services

Several large investors have recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in Kingsway Financial Services by 66.2% in the second quarter. Legal & General Group Plc now owns 2,009 shares of the company’s stock worth $27,000 after buying an additional 800 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Kingsway Financial Services by 220.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company’s stock valued at $52,000 after acquiring an additional 2,622 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Kingsway Financial Services by 143.7% in the third quarter. BNP Paribas Financial Markets now owns 4,141 shares of the company’s stock valued at $61,000 after acquiring an additional 2,442 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Kingsway Financial Services by 17.2% in the second quarter. Osaic Holdings Inc. now owns 6,925 shares of the company’s stock valued at $94,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Kingsway Financial Services by 36.5% in the fourth quarter. Bank of America Corp DE now owns 12,334 shares of the company’s stock worth $103,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 72.38% of the company’s stock.

Kingsway Financial Services Company 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.