Short Interest in Kingsway Financial Services, Inc. (NYSE:KFS) Rises By 22.8%

by · The Cerbat Gem

Kingsway Financial Services, Inc. (NYSE:KFSGet Free Report) (TSE:KFS) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 1,137,464 shares, a growth of 22.8% from the December 31st total of 926,523 shares. Approximately 8.7% of the company’s stock are short sold. Based on an average daily trading volume, of 122,709 shares, the days-to-cover ratio is currently 9.3 days. Based on an average daily trading volume, of 122,709 shares, the days-to-cover ratio is currently 9.3 days. Approximately 8.7% of the company’s stock are short sold.

Insider Activity

In related news, Director Joseph Stilwell sold 19,229 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $12.80, for a total value of $246,131.20. Following the transaction, the director owned 300,000 shares of the company’s stock, valued at approximately $3,840,000. This trade represents a 6.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Taylor Maloney Fitzgerald sold 30,000 shares of Kingsway Financial Services stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $13.32, for a total value of $399,600.00. Following the transaction, the chief executive officer owned 1,459,534 shares of the company’s stock, valued at $19,440,992.88. This trade represents a 2.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 755 shares of company stock valued at $10,012 and have sold 216,427 shares valued at $2,786,566. Insiders own 54.75% of the company’s stock.

Institutional Trading of Kingsway Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its holdings in Kingsway Financial Services by 110.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,851 shares of the insurance provider’s stock worth $25,000 after buying an additional 972 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Kingsway Financial Services in the second quarter worth $26,000. Legal & General Group Plc boosted its holdings in shares of Kingsway Financial Services by 66.2% in the second quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 800 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Kingsway Financial Services in the second quarter valued at $42,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Kingsway Financial Services by 220.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the insurance provider’s stock valued at $52,000 after purchasing an additional 2,622 shares during the period. Institutional investors own 72.38% of the company’s stock.

Kingsway Financial Services Stock Performance

NYSE:KFS traded down $0.01 during trading hours on Tuesday, reaching $13.61. The stock had a trading volume of 7,663 shares, compared to its average volume of 87,887. The stock has a market cap of $394.00 million, a P/E ratio of -37.79 and a beta of 0.19. The stock has a 50 day simple moving average of $13.03 and a 200 day simple moving average of $13.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.39 and a current ratio of 0.39. Kingsway Financial Services has a 12-month low of $7.06 and a 12-month high of $16.80.

Kingsway Financial Services (NYSE:KFSGet Free Report) (TSE:KFS) last posted its quarterly earnings results 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%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Kingsway Financial Services in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Read Our Latest Analysis on Kingsway Financial Services

Kingsway Financial Services Company Profile

(Get Free Report)

Kingsway Financial Services, Inc (NYSE: KFS) is a specialty finance company focused on the acquisition, origination and servicing of residential mortgage loans and related assets in the United States. Through strategic portfolio purchases and direct origination channels, Kingsway builds a diversified mix of mortgage assets, including prime, non-QM and other specialty loan products.

The company’s principal activities include investing in and managing mortgage servicing rights (MSRs), holding mortgage loans for investment, and acquiring residential mortgage-backed securities (RMBS).

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