Insider Buying: Kingsway Financial Services (NYSE:KWY) Director Purchases 3,800 Shares of Stock

Kingsway Financial Services Inc (NYSE:KWY) Director Joshua Horowitz purchased 3,800 shares of the business’s stock in a transaction on Friday, May 29th. The shares were acquired at an average cost of $9.91 per share, with a total value of $37,658.00. Following the acquisition, the director directly owned 372,000 shares in the company, valued at approximately $3,686,520. The trade was a 1.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Joshua Horowitz also recently made the following trade(s):

• On Thursday, May 28th, Joshua Horowitz bought 700 shares of Kingsway Financial Services stock. The shares were purchased at an average cost of $9.95 per share, with a total value of $6,965.00.

Kingsway Financial Services Stock Performance

Shares of KWY traded up $0.02 during midday trading on Monday, reaching $10.01. 62,226 shares of the stock were exchanged, compared to its average volume of 81,846. Kingsway Financial Services Inc has a twelve month low of $9.80 and a twelve month high of $16.80. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.56. The company has a market cap of $289.79 million, a P/E ratio of -25.02 and a beta of 0.24. The stock’s 50 day simple moving average is $10.88 and its 200 day simple moving average is $12.76.

Kingsway Financial Services (NYSE:KWY) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter. The company had revenue of $38.96 million during the quarter. Kingsway Financial Services had a negative net margin of 8.83% and a negative return on equity of 72.50%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Kingsway Financial Services

Several institutional investors have recently bought and sold shares of KWY. Capricorn Fund Managers Ltd bought a new position in Kingsway Financial Services in the 1st quarter valued at $18,616,000. Greenhaven Road Investment Management L.P. grew its stake in Kingsway Financial Services by 43.8% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 1,884,529 shares of the company’s stock valued at $25,347,000 after purchasing an additional 573,993 shares during the period. Mirabella Financial Services LLP grew its stake in Kingsway Financial Services by 13.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 2,189,905 shares of the company’s stock valued at $32,016,000 after purchasing an additional 255,319 shares during the period. Waverly Advisors LLC bought a new position in Kingsway Financial Services in the 1st quarter valued at $1,304,000. Finally, Vanguard Group Inc. grew its stake in Kingsway Financial Services by 12.5% in the 3rd quarter. Vanguard Group Inc. now owns 948,838 shares of the company’s stock valued at $13,872,000 after purchasing an additional 105,080 shares during the period. Institutional investors own 72.38% of the company’s stock.

About Kingsway Financial Services

Kingsway Financial Services Inc is a holding company that operates through a group of subsidiaries focused on extended warranty and specialty insurance-related services. The company’s businesses primarily provide administration, underwriting, and related support services for protection products offered through automotive, consumer, and other markets.

Kingsway has historically operated in the insurance and service contract space, with activities centered on helping businesses and consumers manage risk and protection coverage needs.