Mirabella Financial Services LLP Has $32.02 Million Position in Kingsway Financial Services, Inc. $KFS

Mirabella Financial Services LLP boosted its position in Kingsway Financial Services, Inc. (NYSE:KFS) (TSE:KFS) by 13.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,189,905 shares of the insurance provider’s stock after buying an additional 255,319 shares during the quarter. Kingsway Financial Services makes up about 2.7% of Mirabella Financial Services LLP’s holdings, making the stock its 5th largest position. Mirabella Financial Services LLP owned about 0.08% of Kingsway Financial Services worth $32,016,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its position in shares of Kingsway Financial Services by 110.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,851 shares of the insurance provider’s stock valued at $25,000 after buying an additional 972 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Kingsway Financial Services by 66.2% during the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 800 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in Kingsway Financial Services in the 2nd quarter worth about $42,000. Tower Research Capital LLC TRC increased its holdings in Kingsway Financial Services by 220.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the insurance provider’s stock worth $52,000 after acquiring an additional 2,622 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Kingsway Financial Services by 143.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,141 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 2,442 shares during the period. 72.38% of the stock is currently owned by institutional investors.

Kingsway Financial Services Price Performance

NYSE:KFS opened at $10.77 on Thursday. Kingsway Financial Services, Inc. has a 52-week low of $7.28 and a 52-week high of $16.80. The stock has a fifty day moving average of $12.49 and a 200 day moving average of $13.32. The company has a debt-to-equity ratio of 4.07, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market capitalization of $311.65 million, a price-to-earnings ratio of -25.03 and a beta of 0.22.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last announced its earnings results on Thursday, March 12th. The insurance provider reported ($0.07) earnings per share for the quarter. Kingsway Financial Services had a negative return on equity of 86.90% and a negative net margin of 10.07%.The business had revenue of $38.53 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kingsway Financial Services in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Insider Activity

In other news, CEO John Taylor Maloney Fitzgerald sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $13.32, for a total transaction of $399,600.00. Following the completion of the transaction, the chief executive officer owned 1,459,534 shares of the company’s stock, valued at approximately $19,440,992.88. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Stilwell sold 19,229 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $12.80, for a total transaction of $246,131.20. Following the completion of the transaction, the director owned 300,000 shares in the company, valued at approximately $3,840,000. This trade represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought 804 shares of company stock valued at $10,009 in the last three months. 53.83% of the stock is owned by insiders.

About Kingsway Financial Services

Kingsway Financial Services, Inc (NYSE: KFS) is a specialty finance company focused on the acquisition, origination and servicing of residential mortgage loans and related assets in the United States. Through strategic portfolio purchases and direct origination channels, Kingsway builds a diversified mix of mortgage assets, including prime, non-QM and other specialty loan products.

The company’s principal activities include investing in and managing mortgage servicing rights (MSRs), holding mortgage loans for investment, and acquiring residential mortgage-backed securities (RMBS).