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

Kingstone Companies, Inc. (NASDAQ:KINS) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 193,300 shares, a decline of 37.0% from the February 28th total of 307,000 shares. Based on an average daily volume of 301,700 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Kingstone Companies

A number of institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Kingstone Companies in the 4th quarter valued at $26,000. Tower Research Capital LLC TRC raised its position in shares of Kingstone Companies by 370.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,847 shares of the insurance provider’s stock worth $43,000 after buying an additional 2,242 shares during the period. Barclays PLC acquired a new position in Kingstone Companies in the third quarter valued at $49,000. JPMorgan Chase & Co. boosted its holdings in Kingstone Companies by 53,684.2% in the third quarter. JPMorgan Chase & Co. now owns 10,219 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 10,200 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Kingstone Companies during the fourth quarter valued at about $103,000. 14.91% of the stock is currently owned by hedge funds and other institutional investors.

Kingstone Companies Trading Down 3.4 %

KINS stock traded down $0.60 during midday trading on Friday, hitting $16.99. The stock had a trading volume of 174,670 shares, compared to its average volume of 187,073. The company’s 50-day moving average price is $16.23 and its 200 day moving average price is $13.82. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $233.29 million, a PE ratio of 13.07 and a beta of 0.71. Kingstone Companies has a 12-month low of $3.93 and a 12-month high of $19.18.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Kingstone Companies from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th.

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.