StockNews.com Downgrades Kingsway Financial Services (NYSE:KFS) to Sell

StockNews.com downgraded shares of Kingsway Financial Services (NYSE:KFSFree Report) (TSE:KFS) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Kingsway Financial Services Stock Performance

KFS opened at $8.08 on Monday. Kingsway Financial Services has a fifty-two week low of $6.25 and a fifty-two week high of $9.48. The firm has a 50-day moving average of $8.45 and a 200 day moving average of $8.33. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.57 and a current ratio of 0.57.

Insider Buying and Selling

In other Kingsway Financial Services news, Director Joseph Stilwell sold 7,300 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $8.76, for a total value of $63,948.00. Following the completion of the sale, the director now directly owns 648,797 shares of the company’s stock, valued at $5,683,461.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have purchased 1,903 shares of company stock valued at $16,242. 54.75% of the stock is owned by company insiders.

Institutional Trading of Kingsway Financial Services

Institutional investors have recently modified their holdings of the business. Strs Ohio grew its stake in Kingsway Financial Services by 1,904.5% in the 3rd quarter. Strs Ohio now owns 44,100 shares of the insurance provider’s stock valued at $332,000 after buying an additional 41,900 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Kingsway Financial Services in the third quarter valued at $159,000. Belpointe Asset Management LLC raised its stake in shares of Kingsway Financial Services by 333.4% during the 3rd quarter. Belpointe Asset Management LLC now owns 421,878 shares of the insurance provider’s stock valued at $3,185,000 after purchasing an additional 324,534 shares during the period. Wasatch Advisors LP lifted its holdings in Kingsway Financial Services by 14.6% during the 4th quarter. Wasatch Advisors LP now owns 828,552 shares of the insurance provider’s stock worth $6,960,000 after purchasing an additional 105,751 shares in the last quarter. Finally, Greenhaven Road Investment Management L.P. boosted its stake in Kingsway Financial Services by 26.2% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock worth $3,388,000 after purchasing an additional 83,641 shares during the period. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

Kingsway Financial Services Company Profile

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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.

Further Reading

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