Insider Selling: Kingsway Financial Services (NYSE:KWY) CEO Sells 5,000 Shares of Stock

Kingsway Financial Services Inc (NYSE:KWY) CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $10.13, for a total value of $50,650.00. Following 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

John Taylor Maloney Fitzgerald also recently made the following trade(s):

• On Tuesday, May 19th, John Taylor Maloney Fitzgerald sold 5,000 shares of Kingsway Financial Services stock. The stock was sold at an average price of $10.30, for a total value of $51,500.00.
• On Thursday, April 30th, John Taylor Maloney Fitzgerald acquired 229 shares of Kingsway Financial Services stock. The shares were purchased at an average cost of $10.93 per share, for a total transaction of $2,502.97.
• On Wednesday, April 15th, John Taylor Maloney Fitzgerald purchased 211 shares of Kingsway Financial Services stock. The shares were bought at an average price of $11.85 per share, for a total transaction of $2,500.35.
• On Friday, March 13th, John Taylor Maloney Fitzgerald purchased 234 shares of Kingsway Financial Services stock. The shares were bought at an average price of $10.71 per share, for a total transaction of $2,506.14.
• On Friday, February 27th, John Taylor Maloney Fitzgerald purchased 202 shares of Kingsway Financial Services stock. The shares were bought at an average price of $12.34 per share, for a total transaction of $2,492.68.

Kingsway Financial Services Trading Down 1.7%

NYSE:KWY traded down $0.17 during midday trading on Friday, hitting $10.06. 40,496 shares of the company traded hands, compared to its average volume of 81,396. The firm’s fifty day moving average is $10.99 and its 200-day moving average is $12.90. Kingsway Financial Services Inc has a 12-month low of $9.84 and a 12-month high of $16.80. The firm has a market capitalization of $291.24 million, a P/E ratio of -25.15 and a beta of 0.27. 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 (NYSE:KWY) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter. Kingsway Financial Services had a negative net margin of 8.83% and a negative return on equity of 72.50%. The company had revenue of $38.96 million for the quarter.

Institutional Trading of Kingsway Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Kingsway Financial Services by 6.7% in the first quarter. Bank of America Corp DE now owns 46,605 shares of the company’s stock worth $486,000 after purchasing an additional 2,923 shares during the period. Waverly Advisors LLC purchased a new stake in Kingsway Financial Services in the first quarter worth $1,304,000. Renaissance Technologies LLC increased its stake in Kingsway Financial Services by 22.3% in the first quarter. Renaissance Technologies LLC now owns 319,670 shares of the company’s stock worth $3,334,000 after purchasing an additional 58,290 shares during the period. Capricorn Fund Managers Ltd purchased a new stake in Kingsway Financial Services in the first quarter worth $18,616,000. Finally, Invesco Ltd. increased its stake in Kingsway Financial Services by 10.7% in the fourth quarter. Invesco Ltd. now owns 19,839 shares of the company’s stock worth $267,000 after purchasing an additional 1,916 shares during the period. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Kingsway Financial Services from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

About Kingsway Financial Services

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.