Kingsway Financial Services (NYSE:KFS) Downgraded by StockNews.com

StockNews.com downgraded shares of Kingsway Financial Services (NYSE:KFSFree Report) (TSE:KFS) from a hold rating to a sell rating in a research note issued to investors on Friday.

Kingsway Financial Services Stock Performance

KFS opened at $8.06 on Friday. The stock’s 50-day moving average price is $8.32 and its 200 day moving average price is $8.42. Kingsway Financial Services has a 12-month low of $6.25 and a 12-month high of $9.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.57 and a quick ratio of 0.57.

Kingsway Financial Services (NYSE:KFSGet Free Report) (TSE:KFS) last posted its quarterly earnings results on Wednesday, May 8th. The insurance provider reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $26.16 million during the quarter. Kingsway Financial Services had a negative net margin of 6.57% and a negative return on equity of 24.36%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KFS. Wasatch Advisors LP raised its holdings in Kingsway Financial Services by 14.6% during the fourth 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 during the last quarter. Vanguard Group Inc. increased its position in Kingsway Financial Services by 3.2% during the first quarter. Vanguard Group Inc. now owns 487,353 shares of the insurance provider’s stock worth $4,065,000 after buying an additional 14,981 shares in the last quarter. Belpointe Asset Management LLC increased its position in Kingsway Financial Services by 333.4% during the third quarter. Belpointe Asset Management LLC now owns 421,878 shares of the insurance provider’s stock worth $3,185,000 after buying an additional 324,534 shares in the last quarter. Greenhaven Road Investment Management L.P. increased its position in Kingsway Financial Services by 26.2% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock worth $3,388,000 after buying an additional 83,641 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Kingsway Financial Services in the first quarter valued at $2,085,000. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

About Kingsway Financial Services

(Get Free Report)

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.

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