Kingstone Companies, Inc. (NASDAQ:KINS) Sees Significant Decrease in Short Interest

Kingstone Companies, Inc. (NASDAQ:KINS) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 193,300 shares, a decline of 37.0% from the February 28th total of 307,000 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average trading volume of 301,700 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Kingstone Companies

A number of hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Kingstone Companies during the 4th quarter valued at $26,000. Ritholtz Wealth Management raised its holdings in Kingstone Companies by 138.6% during the fourth quarter. Ritholtz Wealth Management now owns 39,663 shares of the insurance provider’s stock valued at $602,000 after acquiring an additional 23,040 shares during the period. Barclays PLC purchased a new position in shares of Kingstone Companies in the third quarter valued at about $49,000. State Street Corp boosted its stake in shares of Kingstone Companies by 22.7% in the third quarter. State Street Corp now owns 30,229 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 5,600 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Kingstone Companies by 53,684.2% during the third quarter. JPMorgan Chase & Co. now owns 10,219 shares of the insurance provider’s stock worth $94,000 after purchasing an additional 10,200 shares in the last quarter. 14.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Kingstone Companies from a “buy” rating to a “hold” rating in a report on Thursday, March 20th.

Kingstone Companies Stock Performance

Shares of NASDAQ:KINS traded down $0.60 during mid-day trading on Friday, reaching $16.99. 174,670 shares of the company traded hands, compared to its average volume of 187,073. The company’s 50 day moving average price is $16.23 and its 200-day moving average price is $13.79. The firm has a market cap of $233.29 million, a PE ratio of 13.07 and a beta of 0.71. Kingstone Companies has a 52 week low of $3.93 and a 52 week high of $19.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.43 and a quick ratio of 0.43.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.