Renaissance Technologies LLC Buys 58,290 Shares of Kingsway Financial Services Inc $KWY

Renaissance Technologies LLC increased its stake in shares of Kingsway Financial Services Inc (NYSE:KWY) by 22.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 319,670 shares of the company’s stock after buying an additional 58,290 shares during the quarter. Renaissance Technologies LLC’s holdings in Kingsway Financial Services were worth $3,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capricorn Fund Managers Ltd acquired a new position in Kingsway Financial Services in the 1st quarter valued at $18,616,000. Invesco Ltd. grew its holdings in shares of Kingsway Financial Services by 10.7% during the 4th quarter. Invesco Ltd. now owns 19,839 shares of the company’s stock worth $267,000 after purchasing an additional 1,916 shares in the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Kingsway Financial Services during the 4th quarter worth $235,000. Squarepoint Ops LLC bought a new position in shares of Kingsway Financial Services in the fourth quarter worth $607,000. Finally, Barclays PLC increased its position in shares of Kingsway Financial Services by 9.0% in the fourth quarter. Barclays PLC now owns 32,931 shares of the company’s stock worth $443,000 after purchasing an additional 2,728 shares during the period. Institutional investors own 72.38% of the company’s stock.

Insider Buying and Selling at Kingsway Financial Services

In other Kingsway Financial Services news, Director Joshua Horowitz acquired 3,800 shares of Kingsway Financial Services stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $9.91 per share, with a total value of $37,658.00. Following the completion of the purchase, the director directly owned 372,000 shares of the company’s stock, valued at $3,686,520. This represents a 1.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $10.13, for a total value of $50,650.00. Following the completion of the sale, the chief executive officer directly owned 29,100 shares in the company, valued at $294,783. This trade represents a 14.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders bought 5,507 shares of company stock worth $54,628. Corporate insiders own 41.41% of the company’s stock.

Kingsway Financial Services Stock Performance

NYSE KWY opened at $10.12 on Friday. The firm’s 50 day simple moving average is $9.88 and its 200 day simple moving average is $11.37. The firm has a market capitalization of $292.97 million, a price-to-earnings ratio of -33.73 and a beta of 0.24. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.56. Kingsway Financial Services Inc has a 1 year low of $8.41 and a 1 year high of $16.51.

Kingsway Financial Services (NYSE:KWY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.03) EPS for the quarter. Kingsway Financial Services had a negative net margin of 6.69% and a negative return on equity of 59.97%. The firm had revenue of $39.44 million for 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 research report on Friday, May 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Kingsway Financial Services Company 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.