Key Points
- Director Joshua Horowitz purchased 1,300 Kingsway Financial Services shares at $9.75 each, investing $12,675 and increasing his direct holdings to 373,300 shares. He also made several additional purchases in recent months, including 7,034 shares on August 19.
- KWY shares opened at $10.10 and were up 2.1%, but the stock remains below its 52-week high of $16.51. Kingsway reported a quarterly loss of $0.03 per share, negative net margin, and negative return on equity.
- Analyst sentiment remains negative: the company has an average “Sell” rating, while institutional investors own 72.38% of outstanding shares.
Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) Director Joshua Horowitz bought 1,300 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $9.75 per share, for a total transaction of $12,675.00. Following the purchase, the director directly owned 373,300 shares in the company, valued at approximately $3,639,675. This represents a 0.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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 stock was bought at an average cost of $9.89 per share, with a total value of $7,605.41.
- On Wednesday, August 19th, Joshua Horowitz acquired 7,034 shares of Kingsway Financial Services stock. The stock was bought at an average price of $9.84 per share, with a total value of $69,214.56.
- On Friday, May 29th, Joshua Horowitz acquired 3,800 shares of Kingsway Financial Services stock. The shares were purchased at an average cost 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 shares were purchased at an average cost of $9.95 per share, for a total transaction of $6,965.00.
Kingsway Financial Services Stock Up 2.1%
KWY stock opened at $10.10 on Friday. Kingsway Financial Services Inc has a fifty-two week low of $8.41 and a fifty-two week high of $16.51. The company has a market capitalization of $292.19 million, a price-to-earnings ratio of -33.67 and a beta of 0.24. The business's 50 day moving average price is $9.84 and its two-hundred day moving average price is $11.20. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.36 and a current ratio of 1.36.
Kingsway Financial Services (NYSE:KWY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter. Kingsway Financial Services had a negative net margin of 6.69% and a negative return on equity of 61.62%. The firm had revenue of $39.44 million during the quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Kingsway Financial Services from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of "Sell".
View Our Latest Stock Analysis on Kingsway Financial Services
Institutional Investors Weigh In On Kingsway Financial Services
Hedge funds have recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd bought a new position in shares of Kingsway Financial Services during the first quarter valued at $18,616,000. Greenhaven Road Investment Management L.P. boosted its stake in 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 worth $25,347,000 after purchasing an additional 573,993 shares in the last quarter. Waverly Advisors LLC purchased a new stake in Kingsway Financial Services during the 1st quarter valued at about $1,304,000. Vanguard Group Inc. grew its position in Kingsway Financial Services by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 948,838 shares of the company's stock valued at $13,872,000 after purchasing an additional 105,080 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Kingsway Financial Services by 20.2% during the 2nd quarter. Geode Capital Management LLC now owns 426,836 shares of the company's stock valued at $5,780,000 after purchasing an additional 71,720 shares in the last quarter. 72.38% of the stock is owned by institutional investors.
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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