Key Points
- CEO John Taylor Maloney Fitzgerald sold 5,000 shares of Kingsway Financial Services at an average price of $10.30, totaling $51,500. After the sale, he still held 29,100 shares, a 14.66% reduction in his ownership.
- The insider sale comes after several recent insider buys by the CEO, including smaller purchases in late February, March, April, and April 30 at prices ranging from $10.71 to $12.34 per share.
- Kingsway’s recent fundamentals and stock performance remain weak, with the shares trading near $10.25, below both the 50-day and 200-day moving averages, and the company reporting a quarterly loss of $0.10 per share on revenue of $38.96 million.
Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $10.30, for a total value of $51,500.00. Following the completion of the sale, the chief executive officer directly owned 29,100 shares of the company's stock, valued at approximately $299,730. This trade represents a 14.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
John Taylor Maloney Fitzgerald also recently made the following trade(s):
- On Thursday, April 30th, John Taylor Maloney Fitzgerald bought 229 shares of Kingsway Financial Services stock. The stock was bought at an average price of $10.93 per share, for a total transaction of $2,502.97.
- On Wednesday, April 15th, John Taylor Maloney Fitzgerald bought 211 shares of Kingsway Financial Services stock. The shares were bought at an average cost of $11.85 per share, for a total transaction of $2,500.35.
- On Friday, March 13th, John Taylor Maloney Fitzgerald purchased 234 shares of Kingsway Financial Services stock. The shares were bought at an average price of $10.71 per share, with a total value of $2,506.14.
- On Friday, February 27th, John Taylor Maloney Fitzgerald purchased 202 shares of Kingsway Financial Services stock. The stock was bought at an average cost of $12.34 per share, with a total value of $2,492.68.
Kingsway Financial Services Price Performance
Shares of NYSE:KWY opened at $10.25 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.56. The stock has a market cap of $296.74 million, a PE ratio of -25.62 and a beta of 0.27. The stock's fifty day simple moving average is $10.99 and its two-hundred day simple moving average is $12.90. Kingsway Financial Services Inc has a 1-year low of $9.84 and a 1-year high of $16.80.
Kingsway Financial Services (NYSE:KWY - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter. The firm had revenue of $38.96 million during the quarter. Kingsway Financial Services had a negative return on equity of 72.50% and a negative net margin of 8.83%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered shares of Kingsway Financial Services from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Kingsway Financial Services currently has a consensus rating of "Sell".
Get Our Latest Research Report on Kingsway Financial Services
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Mirabella Financial Services LLP raised its stake in shares of Kingsway Financial Services by 13.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 2,189,905 shares of the company's stock worth $32,016,000 after purchasing an additional 255,319 shares during the period. Jane Street Group LLC bought a new position in Kingsway Financial Services during the first quarter valued at about $149,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Kingsway Financial Services by 27.4% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,924 shares of the company's stock worth $134,000 after buying an additional 2,132 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Kingsway Financial Services by 170.2% during the third quarter. Russell Investments Group Ltd. now owns 9,093 shares of the company's stock worth $133,000 after buying an additional 5,728 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Kingsway Financial Services by 36.5% in the fourth quarter. Bank of America Corp DE now owns 12,334 shares of the company's stock worth $103,000 after acquiring an additional 3,300 shares during the period. Institutional investors own 72.38% of the company's stock.
About Kingsway Financial Services
(
Get Free Report)
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.
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