Insider Buying: Kingsway Financial Services (NYSE:KWY) Director Purchases $69,214.56 in Stock

Kingsway Financial Services Inc (NYSE:KWY) Director Joshua Horowitz bought 7,034 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was acquired at an average cost of $9.84 per share, for a total transaction of $69,214.56. Following the acquisition, the director directly owned 380,334 shares of the company’s stock, valued at $3,742,486.56. The trade was a 1.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Joshua Horowitz also recently made the following trade(s):

• On Thursday, August 20th, Joshua Horowitz purchased 769 shares of Kingsway Financial Services stock. The shares were acquired at an average cost of $9.89 per share, with a total value of $7,605.41.
• On Tuesday, August 18th, Joshua Horowitz acquired 1,300 shares of Kingsway Financial Services stock. The shares were acquired at an average cost of $9.75 per share, with a total value of $12,675.00.
• On Friday, May 29th, Joshua Horowitz acquired 3,800 shares of Kingsway Financial Services stock. The stock was acquired at an average price of $9.91 per share, for a total transaction of $37,658.00.
• On Thursday, May 28th, Joshua Horowitz acquired 700 shares of Kingsway Financial Services stock. The stock was acquired at an average price of $9.95 per share, for a total transaction of $6,965.00.

Kingsway Financial Services Stock Up 2.1%

Shares of NYSE KWY traded up $0.21 during midday trading on Thursday, hitting $10.10. 120,633 shares of the company’s stock were exchanged, compared to its average volume of 77,508. The firm’s fifty day simple moving average is $9.84 and its 200-day simple moving average is $11.20. The company has a market cap of $292.19 million, a PE ratio of -33.67 and a beta of 0.24. Kingsway Financial Services Inc has a twelve month low of $8.41 and a twelve month high of $16.51. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.36 and a quick ratio of 1.36.

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

Analysts Set New Price Targets

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

Institutional Trading of Kingsway Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Greenhaven Road Investment Management L.P. lifted its holdings 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 valued at $25,347,000 after purchasing an additional 573,993 shares during the last quarter. Capricorn Fund Managers Ltd purchased a new position in Kingsway Financial Services during the 1st quarter worth approximately $18,616,000. Vanguard Group Inc. grew its stake in Kingsway Financial Services by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 948,838 shares of the company’s stock worth $13,872,000 after buying an additional 105,080 shares during the last quarter. Geode Capital Management LLC grew its stake in Kingsway Financial Services by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 470,407 shares of the company’s stock worth $6,329,000 after buying an additional 10,143 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Kingsway Financial Services by 22.3% during the first quarter. Renaissance Technologies LLC now owns 319,670 shares of the company’s stock worth $3,334,000 after buying an additional 58,290 shares during the period. Institutional investors and hedge funds own 72.38% of the company’s stock.

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.