Greenhaven Road Investment Management L.P. Has $25.35 Million Stake in Kingsway Financial Services Inc $KWY

Greenhaven Road Investment Management L.P. grew its stake in Kingsway Financial Services Inc (NYSE:KWY) by 43.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,884,529 shares of the company’s stock after purchasing an additional 573,993 shares during the quarter. Kingsway Financial Services comprises about 4.2% of Greenhaven Road Investment Management L.P.’s holdings, making the stock its 5th biggest holding. Greenhaven Road Investment Management L.P. owned about 6.51% of Kingsway Financial Services worth $25,347,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KWY. Legal & General Group Plc grew its position in shares of Kingsway Financial Services by 66.2% in the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the company’s stock worth $27,000 after buying an additional 800 shares during the period. Tower Research Capital LLC TRC grew its position in Kingsway Financial Services by 220.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company’s stock valued at $52,000 after purchasing an additional 2,622 shares during the last quarter. BNP Paribas Financial Markets grew its position in Kingsway Financial Services by 143.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,141 shares of the company’s stock valued at $61,000 after purchasing an additional 2,442 shares during the last quarter. Osaic Holdings Inc. grew its position in Kingsway Financial Services by 17.2% during the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the company’s stock valued at $94,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Kingsway Financial Services by 36.5% during the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the company’s stock valued at $103,000 after purchasing an additional 3,300 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kingsway Financial Services

In other news, Director Joshua Horowitz bought 3,800 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $9.91 per share, for a total transaction of $37,658.00. Following the purchase, the director 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of Kingsway Financial Services stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $10.13, for a total transaction of $50,650.00. Following the sale, the chief executive officer owned 29,100 shares in the company, valued at approximately $294,783. The trade was a 14.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 5,190 shares of company stock worth $52,134 in the last quarter. Company insiders own 41.41% of the company’s stock.

Kingsway Financial Services Price Performance

Shares of NYSE:KWY opened at $10.43 on Friday. The firm’s 50 day moving average price is $10.87 and its 200-day moving average price is $12.54. 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 stock has a market capitalization of $301.95 million, a PE ratio of -26.07 and a beta of 0.23.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Kingsway Financial Services presently has a consensus rating of “Sell”.

Kingsway Financial Services Profile

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.