Key Points
- Director Joseph Stilwell sold 67,500 shares of Kingsway Financial Services on December 11 at an average price of $12.80 for proceeds of $864,000, reducing his stake by 10.43% to 579,404 shares (worth about $7.42M).
- Pattern of insider selling: Stilwell has sold additional blocks on Dec. 9, Dec. 8, Sept. 17 and Sept. 16 — roughly 190,500 shares in total for about $2.55M since mid-September.
- Company backdrop: KFS trades around $12.80 with a $370.8M market cap, reported negative EPS and return on equity, and carries a Weiss Ratings "sell (d-)" and an average analyst rating of "Sell."
Kingsway Financial Services, Inc. (NYSE:KFS - Get Free Report) (TSE:KFS) Director Joseph Stilwell sold 67,500 shares of Kingsway Financial Services stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $12.80, for a total transaction of $864,000.00. Following the transaction, the director directly owned 579,404 shares in the company, valued at $7,416,371.20. The trade was a 10.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Joseph Stilwell also recently made the following trade(s):
- On Tuesday, December 9th, Joseph Stilwell sold 20,000 shares of Kingsway Financial Services stock. The shares were sold at an average price of $12.80, for a total transaction of $256,000.00.
- On Monday, December 8th, Joseph Stilwell sold 35,000 shares of Kingsway Financial Services stock. The stock was sold at an average price of $12.82, for a total transaction of $448,700.00.
- On Wednesday, September 17th, Joseph Stilwell sold 48,000 shares of Kingsway Financial Services stock. The shares were sold at an average price of $14.47, for a total transaction of $694,560.00.
- On Tuesday, September 16th, Joseph Stilwell sold 20,000 shares of Kingsway Financial Services stock. The shares were sold at an average price of $14.40, for a total transaction of $288,000.00.
Kingsway Financial Services Stock Performance
KFS stock opened at $12.80 on Tuesday. Kingsway Financial Services, Inc. has a 1-year low of $7.06 and a 1-year high of $16.80. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.74. The firm has a market cap of $370.77 million, a PE ratio of -35.56 and a beta of 0.32. The business's 50-day moving average price is $13.71 and its two-hundred day moving average price is $14.00.
Kingsway Financial Services (NYSE:KFS - Get Free Report) (TSE:KFS) last announced its quarterly earnings results on Thursday, November 6th. The insurance provider reported ($0.10) earnings per share (EPS) for the quarter. Kingsway Financial Services had a negative return on equity of 76.94% and a negative net margin of 8.55%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Kingsway Financial Services in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of "Sell".
Get Our Latest Stock Analysis on KFS
Institutional Investors Weigh In On Kingsway Financial Services
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider's stock valued at $103,000 after acquiring an additional 3,300 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Kingsway Financial Services in the first quarter valued at approximately $132,000. Nuveen LLC bought a new stake in shares of Kingsway Financial Services in the first quarter worth $139,000. Goldman Sachs Group Inc. boosted its holdings in Kingsway Financial Services by 11.2% during the first quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider's stock worth $811,000 after purchasing an additional 10,350 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Kingsway Financial Services in the first quarter valued at $149,000. Institutional investors and hedge funds own 72.38% of the company's stock.
About Kingsway Financial Services
(
Get Free Report)
Kingsway Financial Services Inc, through its subsidiaries, engages in the extended warranty and business services in the United States. The company operates through two segments, Extended Warranty and Kingsway Search Xcelerator. The Extended Warranty segment markets, sells, and administers vehicle service agreements and related products for new and used automobiles, motorcycles, and ATVs.
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