Kingstone Companies, Inc. (NASDAQ:KINS) Sees Large Growth in Short Interest

Kingstone Companies, Inc. (NASDAQ:KINS) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 474,200 shares, an increase of 146.9% from the November 15th total of 192,100 shares. Based on an average daily trading volume, of 253,900 shares, the days-to-cover ratio is presently 1.9 days. Approximately 5.3% of the company’s stock are sold short.

Kingstone Companies Stock Up 5.6 %

Shares of KINS traded up $0.85 during mid-day trading on Friday, hitting $15.96. 326,815 shares of the company’s stock were exchanged, compared to its average volume of 112,641. The stock has a market cap of $197.09 million, a price-to-earnings ratio of 12.28 and a beta of 0.71. The firm has a fifty day moving average of $12.34 and a two-hundred day moving average of $8.87. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.29. Kingstone Companies has a twelve month low of $1.95 and a twelve month high of $17.77.

Kingstone Companies (NASDAQ:KINS) last posted its earnings results on Tuesday, November 12th. The insurance provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $40.77 million for the quarter, compared to the consensus estimate of $41.80 million. Kingstone Companies had a net margin of 10.60% and a return on equity of 32.55%. During the same period in the prior year, the business posted ($0.27) earnings per share. On average, sell-side analysts forecast that Kingstone Companies will post 1.4 earnings per share for the current year.

Insider Buying and Selling at Kingstone Companies

In other news, Director Carla D’andre bought 4,000 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average price of $10.98 per share, for a total transaction of $43,920.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $43,920. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Kingstone Companies

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new stake in shares of Kingstone Companies in the third quarter worth $49,000. Jane Street Group LLC bought a new position in Kingstone Companies in the 3rd quarter worth $170,000. State Street Corp lifted its position in Kingstone Companies by 22.7% during the 3rd quarter. State Street Corp now owns 30,229 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 5,600 shares during the last quarter. XTX Topco Ltd bought a new stake in Kingstone Companies during the third quarter valued at about $290,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Kingstone Companies in the third quarter valued at about $304,000. Institutional investors own 14.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Kingstone Companies from a “buy” rating to a “hold” rating in a research note on Wednesday.

About Kingstone Companies

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.