Kingsway Financial Services, Inc. (NYSE:KFS) Sees Significant Increase in Short Interest

Kingsway Financial Services, Inc. (NYSE:KFS) (TSE:KFS) was the target of a significant increase in short interest in February. As of February 13th, there was short interest totaling 1,229,965 shares, an increase of 20.2% from the January 29th total of 1,022,862 shares. Based on an average daily trading volume, of 88,875 shares, the days-to-cover ratio is currently 13.8 days. Approximately 9.4% of the company’s stock are sold short. Approximately 9.4% of the company’s stock are sold short. Based on an average daily trading volume, of 88,875 shares, the days-to-cover ratio is currently 13.8 days.

Insider Activity at Kingsway Financial Services

In related news, Director Joseph Stilwell sold 19,229 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $12.80, for a total value of $246,131.20. Following the transaction, the director owned 300,000 shares of the company’s stock, valued at $3,840,000. This represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John Taylor Maloney Fitzgerald sold 30,000 shares of Kingsway Financial Services stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $13.32, for a total value of $399,600.00. Following the sale, the chief executive officer directly owned 1,459,534 shares of the company’s stock, valued at $19,440,992.88. This trade represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 765 shares of company stock worth $10,003 and sold 216,427 shares worth $2,786,566. 54.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kingsway Financial Services

Several large investors have recently modified their holdings of KFS. Rhumbline Advisers increased its stake in Kingsway Financial Services by 2.9% in the 3rd quarter. Rhumbline Advisers now owns 26,495 shares of the insurance provider’s stock valued at $387,000 after buying an additional 741 shares during the period. Legal & General Group Plc lifted its holdings in Kingsway Financial Services by 66.2% in the second quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 800 shares during the period. Ameritas Investment Partners Inc. grew its stake 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 worth $25,000 after purchasing an additional 972 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Kingsway Financial Services by 17.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the insurance provider’s stock valued at $94,000 after purchasing an additional 1,015 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Kingsway Financial Services by 9.8% in the fourth quarter. Deutsche Bank AG now owns 17,669 shares of the insurance provider’s stock valued at $238,000 after purchasing an additional 1,581 shares during the period. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kingsway Financial Services Stock Down 1.5%

Shares of NYSE:KFS opened at $12.14 on Wednesday. Kingsway Financial Services has a 1-year low of $7.06 and a 1-year high of $16.80. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $351.57 million, a P/E ratio of -33.72 and a beta of 0.22. The firm has a fifty day moving average price of $12.93 and a 200 day moving average price of $13.55.

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).