Key Points
- Director Joshua Horowitz bought 2,717 Kingsway Financial Services shares at an average price of $9.28, investing $25,213.76 and increasing his direct ownership by 0.71% to 383,820 shares.
- Horowitz has made several additional purchases since mid-August, including 858 shares on September 30, bringing his recent buying activity to more than 12,000 shares.
- Kingsway’s stock opened at $9.42, near the lower end of its 12-month range, while the company reported a quarterly loss of $0.03 per share. Analysts maintain a consensus “Sell” rating.
Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) Director Joshua Horowitz bought 2,717 shares of the firm's stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average price of $9.28 per share, with a total value of $25,213.76. Following the transaction, the director directly owned 383,820 shares in the company, valued at $3,561,849.60. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Joshua Horowitz also recently made the following trade(s):
- On Wednesday, September 30th, Joshua Horowitz purchased 858 shares of Kingsway Financial Services stock. The shares were bought at an average price of $9.23 per share, for a total transaction of $7,919.34.
- On Thursday, August 20th, Joshua Horowitz acquired 769 shares of Kingsway Financial Services stock. The stock was bought at an average price 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 shares were bought at an average price of $9.84 per share, for a total transaction of $69,214.56.
- On Tuesday, August 18th, Joshua Horowitz bought 1,300 shares of Kingsway Financial Services stock. The shares were purchased at an average cost of $9.75 per share, for a total transaction of $12,675.00.
Kingsway Financial Services Price Performance
Shares of NYSE:KWY opened at $9.42 on Thursday. The stock has a market cap of $272.52 million, a price-to-earnings ratio of -31.40 and a beta of 0.25. The company has a debt-to-equity ratio of 4.39, a current ratio of 1.36 and a quick ratio of 1.36. Kingsway Financial Services Inc has a 12 month low of $8.41 and a 12 month high of $16.51. The stock's 50 day moving average price is $9.67 and its 200 day moving average price is $10.47.
Kingsway Financial Services (NYSE:KWY - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (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 for 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 note on Thursday, September 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Sell".
Read Our Latest Research Report on KWY
Institutional Trading of Kingsway Financial Services
Hedge funds and other institutional investors have recently made changes to their positions in the business. Greenhaven Road Investment Management L.P. lifted its position in shares of Kingsway Financial Services by 43.8% during the 4th quarter. Greenhaven Road Investment Management L.P. now owns 1,884,529 shares of the company's stock valued at $25,347,000 after acquiring an additional 573,993 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in shares of Kingsway Financial Services in the 1st quarter worth $18,616,000. Renaissance Technologies LLC grew its holdings in shares of Kingsway Financial Services by 22.3% in the 1st quarter. Renaissance Technologies LLC now owns 319,670 shares of the company's stock worth $3,334,000 after acquiring an additional 58,290 shares during the last quarter. State Street Corp acquired a new stake in shares of Kingsway Financial Services during the second quarter worth $3,105,000. Finally, Waverly Advisors LLC acquired a new stake in shares of Kingsway Financial Services during the first quarter worth $1,304,000. 72.38% of the stock is currently owned by institutional investors.
Kingsway Financial Services Company Profile
(
Get Free Report)
Kingsway Financial Services Inc is a specialty insurance and holding company that operates primarily in the United States. The company focuses on niche insurance and insurance-related businesses rather than broad-based personal lines coverage.
Kingsway's operating businesses include providers of vehicle service agreements and other extended warranty products, as well as specialty insurance and insurance services. Its portfolio has included businesses serving automotive dealers, vehicle owners, commercial customers and other specialized markets.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
