Greenhaven Road Investment Management L.P. Buys 554,891 Shares of Kingsway Financial Services, Inc. $KFS

Greenhaven Road Investment Management L.P. grew its position in shares of Kingsway Financial Services, Inc. (NYSE:KFS) (TSE:KFS) by 73.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,310,536 shares of the insurance provider’s stock after buying an additional 554,891 shares during the quarter. Kingsway Financial Services makes up approximately 6.1% of Greenhaven Road Investment Management L.P.’s portfolio, making the stock its 8th largest holding. Greenhaven Road Investment Management L.P.’s holdings in Kingsway Financial Services were worth $17,745,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in KFS. Ameritas Investment Partners Inc. lifted its stake in Kingsway Financial Services by 110.6% in the second 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. Nisa Investment Advisors LLC purchased a new stake in Kingsway Financial Services in the 2nd quarter valued at $26,000. Legal & General Group Plc boosted its stake in 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 purchasing an additional 800 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in Kingsway Financial Services during the 2nd quarter worth $42,000. Finally, Bank of America Corp DE increased its stake in Kingsway Financial Services by 36.5% in the fourth quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider’s stock valued at $103,000 after purchasing an additional 3,300 shares during the period. 72.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Joseph Stilwell sold 48,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $14.47, for a total value of $694,560.00. Following the completion of the transaction, the director owned 457,181 shares of the company’s stock, valued at approximately $6,615,409.07. The trade was a 9.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 871 shares of company stock worth $12,494 and sold 93,000 shares worth $1,342,810. Corporate insiders own 53.83% of the company’s stock.

Analyst Upgrades and Downgrades

KFS has been the topic of a number of research reports. Wall Street Zen raised Kingsway Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsway Financial Services in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Kingsway Financial Services Stock Down 0.1%

KFS opened at $12.76 on Friday. Kingsway Financial Services, Inc. has a one year low of $7.06 and a one year high of $16.80. The company has a market cap of $369.62 million, a price-to-earnings ratio of -35.45 and a beta of 0.32. The business’s fifty day moving average is $13.97 and its two-hundred day moving average is $13.92. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.39 and a current ratio of 0.39.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last released its quarterly earnings data on Thursday, November 6th. The insurance provider reported ($0.10) EPS for the quarter. Kingsway Financial Services had a negative return on equity of 76.94% and a negative net margin of 8.55%.

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.