Kingsway Financial Services (NYSE:KWY) Trading Down 3.4% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Kingsway Financial Services Trading Up 0.8%

The company has a market capitalization of $251.29 million, a P/E ratio of -21.70 and a beta of 0.23. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.62 and a quick ratio of 1.62. The firm has a fifty day moving average price of $10.15 and a 200-day moving average price of $11.67.

Kingsway Financial Services (NYSE:KWY) last issued 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 business had revenue of $38.96 million for the quarter.

Insider Buying and Selling at Kingsway Financial Services

In other Kingsway Financial Services news, Director Joshua Horowitz bought 3,800 shares of the stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of $9.91 per share, for a total transaction of $37,658.00. Following the purchase, the director directly owned 372,000 shares of the company’s stock, valued at approximately $3,686,520. This trade represents a 1.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $10.13, for a total transaction of $50,650.00. Following the completion of the transaction, the chief executive officer directly owned 29,100 shares in the company, valued at $294,783. This trade represents a 14.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 5,458 shares of company stock valued at $54,634. Insiders own 41.41% of the company’s stock.

Hedge Funds Weigh In On Kingsway Financial Services

Several large investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in shares of Kingsway Financial Services by 2.9% in the third quarter. Rhumbline Advisers now owns 26,495 shares of the company’s stock valued at $387,000 after purchasing an additional 741 shares during the period. Legal & General Group Plc boosted its holdings in Kingsway Financial Services by 66.2% in the 2nd 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 period. Osaic Holdings Inc. grew its stake in Kingsway Financial Services by 17.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the company’s stock valued at $94,000 after buying an additional 1,015 shares in the last quarter. Deutsche Bank AG raised its holdings in Kingsway Financial Services by 9.8% during the 4th quarter. Deutsche Bank AG now owns 17,669 shares of the company’s stock valued at $238,000 after acquiring an additional 1,581 shares during the period. Finally, Bank of America Corp DE raised its holdings in Kingsway Financial Services by 4.8% during the 2nd quarter. Bank of America Corp DE now owns 34,992 shares of the company’s stock valued at $474,000 after acquiring an additional 1,592 shares during the period. Hedge funds and other institutional investors 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.