Kingsway Financial Services Inc. (NYSE:KFS) Sees Large Increase in Short Interest

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

Kingsway Financial Services Price Performance

Kingsway Financial Services stock traded down $0.02 during trading on Friday, hitting $7.69. 115,102 shares of the company were exchanged, compared to its average volume of 51,154. The business’s 50 day moving average is $8.17 and its 200 day moving average is $8.38. Kingsway Financial Services has a 52 week low of $6.25 and a 52 week 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.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Kingsway Financial Services news, Director Joseph Stilwell sold 100,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were 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 owns 640,108 shares in the company, valued at approximately $5,204,078.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 2,443 shares of company stock worth $20,307 in the last ninety days. Corporate insiders own 54.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in 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 purchasing an additional 6,376 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Kingsway Financial Services by 25.8% in the second quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock valued at $102,000 after acquiring an additional 2,534 shares in the last quarter. DHK Financial Advisors Inc. purchased a new stake in shares of Kingsway Financial Services during the second quarter valued at approximately $303,000. Bank of New York Mellon Corp lifted its holdings in Kingsway Financial Services by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 37,793 shares of the insurance provider’s stock worth $311,000 after acquiring an additional 6,778 shares during the period. Finally, Strs Ohio lifted its holdings in Kingsway Financial Services by 34.5% during the fourth quarter. Strs Ohio now owns 59,300 shares of the insurance provider’s stock worth $498,000 after acquiring an additional 15,200 shares during the period. 72.38% of the stock is owned by institutional investors.

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.