Kingsway Financial Services (NYSE:KWY) Director Purchases $69,214.56 in Stock

Kingsway Financial Services Inc (NYSE:KWY) Director Joshua Horowitz bought 7,034 shares of the stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $9.84 per share, with a total value of $69,214.56. Following the completion of the purchase, the director directly owned 380,334 shares in the company, valued at $3,742,486.56. This trade represents a 1.88% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Joshua Horowitz also recently made the following trade(s):

• On Thursday, August 20th, Joshua Horowitz purchased 769 shares of Kingsway Financial Services stock. The shares were acquired at an average cost of $9.89 per share, for a total transaction of $7,605.41.
• On Tuesday, August 18th, Joshua Horowitz purchased 1,300 shares of Kingsway Financial Services stock. The shares were acquired at an average cost of $9.75 per share, for a total transaction of $12,675.00.
• On Friday, May 29th, Joshua Horowitz acquired 3,800 shares of Kingsway Financial Services stock. The shares were acquired at an average price of $9.91 per share, for a total transaction of $37,658.00.
• On Thursday, May 28th, Joshua Horowitz acquired 700 shares of Kingsway Financial Services stock. The stock was acquired at an average cost of $9.95 per share, with a total value of $6,965.00.

Kingsway Financial Services Price Performance

Shares of NYSE:KWY opened at $10.40 on Friday. The company has a market cap of $300.87 million, a P/E ratio of -34.67 and a beta of 0.24. The business has a fifty day simple moving average of $9.84 and a 200-day simple moving average of $11.17. Kingsway Financial Services Inc has a 52 week low of $8.41 and a 52 week high of $16.51. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 4.39.

Kingsway Financial Services (NYSE:KWY) last released its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter. Kingsway Financial Services had a negative return on equity of 61.62% and a negative net margin of 6.69%.The business had revenue of $39.44 million for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of KWY. Legal & General Group Plc boosted its position in Kingsway Financial Services by 66.2% during the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the company’s stock worth $27,000 after purchasing an additional 800 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Kingsway Financial Services by 220.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company’s stock valued at $52,000 after purchasing an additional 2,622 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Kingsway Financial Services by 143.7% during the third quarter. BNP Paribas Financial Markets now owns 4,141 shares of the company’s stock valued at $61,000 after purchasing an additional 2,442 shares during the period. Osaic Holdings Inc. lifted its position in shares of Kingsway Financial Services by 17.2% during the second quarter. Osaic Holdings Inc. now owns 6,925 shares of the company’s stock worth $94,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Kingsway Financial Services by 36.5% during the fourth quarter. Bank of America Corp DE now owns 12,334 shares of the company’s stock worth $103,000 after purchasing an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently 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.