Financial Services News

Kingsway Financial Services Inc. (NYSE:KFS) Sees Significant Growth in Short Interest

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Kingsway Financial Services Inc. (NYSE:KFS – Get Rating) (TSE:KFS) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 63,400 shares, an increase of 16.8% from the November 30th total of 54,300 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 19,600 shares, the days-to-cover ratio is presently 3.2 days.

Kingsway Financial Services Trading Up 1.0 %

Shares of NYSE KFS traded up $0.08 during trading on Friday, reaching $7.93. The stock had a trading volume of 7,909 shares, compared to its average volume of 22,980. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market cap of $192.14 million, a P/E ratio of 6.05 and a beta of -0.14. Kingsway Financial Services has a fifty-two week low of $5.05 and a fifty-two week high of $8.60. The business’s 50-day moving average price is $7.16 and its 200-day moving average price is $6.74.

Kingsway Financial Services (NYSE:KFS – Get Rating) (TSE:KFS) last announced its earnings results on Thursday, November 10th. The insurance provider reported $0.10 EPS for the quarter. The company had revenue of $26.03 million during the quarter. Kingsway Financial Services had a return on equity of 71.79% and a net margin of 32.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Kingsway Financial Services by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 547,719 shares of the insurance provider’s stock valued at $3,012,000 after buying an additional 79,836 shares during the period. Stilwell Value LLC boosted its holdings in Kingsway Financial Services by 2.4% in the first quarter. Stilwell Value LLC now owns 7,391,464 shares of the insurance provider’s stock valued at $40,653,000 after purchasing an additional 172,494 shares during the period. State Street Corp grew its stake in Kingsway Financial Services by 48.1% during the 1st quarter. State Street Corp now owns 20,949 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 6,801 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Kingsway Financial Services by 4.7% during the 2nd quarter. Renaissance Technologies LLC now owns 400,998 shares of the insurance provider’s stock worth $2,286,000 after purchasing an additional 18,183 shares during the period. Finally, Belpointe Asset Management LLC increased its holdings in Kingsway Financial Services by 15.8% during the 3rd quarter. Belpointe Asset Management LLC now owns 93,398 shares of the insurance provider’s stock worth $648,000 after purchasing an additional 12,711 shares during the period. Institutional investors and hedge funds own 68.99% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet upgraded shares of Kingsway Financial Services from a “c+” rating to a “b-” rating in a report on Wednesday, December 7th.

About Kingsway Financial Services

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Kingsway Financial Services Inc, through its subsidiaries, engages in the extended warranty business services, asset management, and real estate businesses. The company operates through three segments: Extended Warranty, Leased Real Estate, 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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