October 6, 2022

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Kingsway Financial Services Inc. (NYSE:KFS) Sees Large Increase in Short Interest

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Kingsway Financial Services Inc. (NYSE:KFS – Get Rating) (TSE:KFS) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 39,400 shares, a growth of 91.3% from the June 15th total of 20,600 shares. Currently, 0.3% of the company’s stock are short sold. Based on an average daily volume of 19,000 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of Kingsway Financial Services from a “d+” rating to a “c” rating in a research report on Wednesday, May 4th.

Insider Transactions at Kingsway Financial Services

In other news, Director Charles L. Frischer bought 11,000 shares of Kingsway Financial Services stock in a transaction that occurred on Thursday, June 9th. The shares were purchased at an average price of $5.35 per share, with a total value of $58,850.00. Following the completion of the acquisition, the director now directly owns 231,000 shares in the company, valued at $1,235,850. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gregory Paul Hannon bought 34,600 shares of Kingsway Financial Services stock in a transaction that occurred on Thursday, June 23rd. The shares were purchased at an average price of $5.31 per share, with a total value of $183,726.00. Following the completion of the acquisition, the director now directly owns 2,560,146 shares in the company, valued at $13,594,375.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles L. Frischer bought 11,000 shares of Kingsway Financial Services stock in a transaction that occurred on Thursday, June 9th. The stock was purchased at an average cost of $5.35 per share, for a total transaction of $58,850.00. Following the acquisition, the director now owns 231,000 shares of the company’s stock, valued at $1,235,850. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 165,928 shares of company stock valued at $902,700. 56.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Stilwell Value LLC raised its stake in shares of Kingsway Financial Services by 2.4% during the 1st quarter. Stilwell Value LLC now owns 7,391,464 shares of the insurance provider’s stock worth $40,653,000 after buying an additional 172,494 shares during the last quarter. Vanguard Group Inc. raised its stake in Kingsway Financial Services by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 547,719 shares of the insurance provider’s stock valued at $3,012,000 after purchasing an additional 79,836 shares during the last quarter. Finally, State Street Corp raised its stake in Kingsway Financial Services by 48.1% in the 1st quarter. State Street Corp now owns 20,949 shares of the insurance provider’s stock valued at $115,000 after purchasing an additional 6,801 shares during the last quarter. Institutional investors and hedge funds own 74.59% of the company’s stock.

Kingsway Financial Services Stock Up 0.5 %

Shares of NYSE KFS opened at $5.99 on Friday. Kingsway Financial Services has a one year low of $4.85 and a one year high of $6.28. The company’s fifty day moving average is $5.52 and its two-hundred day moving average is $5.43. The company has a debt-to-equity ratio of 16.37, a quick ratio of 0.21 and a current ratio of 0.21.

Kingsway Financial Services (NYSE:KFS – Get Rating) (TSE:KFS) last released its quarterly earnings results on Friday, May 6th. The insurance provider reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $26.12 million during the quarter. Kingsway Financial Services had a positive return on equity of 161.76% and a negative net margin of 3.02%.

About Kingsway Financial Services

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Kingsway Financial Services Inc, through its subsidiaries, engages in the extended warranty business services, asset management, and real estate businesses. The company operates through three segments: Extended Warranty, Leased Real Estate, 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.

Further Reading

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