Kingsway Financial Services Inc. (NYSE:KFS) Short Interest Update

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) saw a significant growth in short interest in July. As of July 31st, there was short interest totalling 390,400 shares, a growth of 9.8% from the July 15th total of 355,500 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 78,900 shares, the short-interest ratio is currently 4.9 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Kingsway Financial Services from a “hold” rating to a “sell” rating in a research report on Friday, June 14th.

Kingsway Financial Services Stock Performance

KFS traded down $0.02 during trading on Friday, reaching $7.69. The company’s stock had a trading volume of 115,102 shares, compared to its average volume of 51,154. The firm has a fifty day simple moving average of $8.17 and a two-hundred day simple moving average of $8.38. Kingsway Financial Services has a 1 year low of $6.25 and a 1 year high of $9.48. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.66.

Insider Buying and Selling at Kingsway Financial Services

In other Kingsway Financial Services news, Director Joseph Stilwell sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $8.13, for a total transaction of $813,000.00. Following the completion of the sale, the director now directly owns 640,108 shares in the company, valued at approximately $5,204,078.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders bought 2,443 shares of company stock valued at $20,307. Corporate insiders own 54.75% of the company’s stock.

Hedge Funds Weigh In On Kingsway Financial Services

A number of institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in shares of Kingsway Financial Services by 193.0% in the 1st quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock worth $81,000 after acquiring an additional 6,376 shares during the last quarter. Rhumbline Advisers increased its position in Kingsway Financial Services by 25.8% during the second quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock worth $102,000 after purchasing an additional 2,534 shares during the last quarter. DHK Financial Advisors Inc. purchased a new position in Kingsway Financial Services during the second quarter worth about $303,000. Bank of New York Mellon Corp boosted its holdings in Kingsway Financial Services by 21.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,793 shares of the insurance provider’s stock valued at $311,000 after purchasing an additional 6,778 shares during the last quarter. Finally, Strs Ohio grew its stake in shares of Kingsway Financial Services by 34.5% in the 4th quarter. Strs Ohio now owns 59,300 shares of the insurance provider’s stock valued at $498,000 after buying an additional 15,200 shares during the period. Hedge funds and other institutional investors own 72.38% of the company’s stock.

About Kingsway Financial Services

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.