Waverly Advisors LLC Acquires Shares of 125,000 Kingsway Financial Services Inc $KWY

Waverly Advisors LLC bought a new position in shares of Kingsway Financial Services Inc (NYSE:KWY) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 125,000 shares of the company’s stock, valued at approximately $1,304,000.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Insider Buying and Selling

In other Kingsway Financial Services news, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were 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 represents a 14.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joshua Horowitz purchased 3,800 shares of the business’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $9.91 per share, with a total value of $37,658.00. Following the completion of the acquisition, the director owned 372,000 shares in the company, valued at approximately $3,686,520. This trade represents a 1.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 5,507 shares of company stock worth $54,628 in the last ninety days. 41.41% of the stock is currently owned by insiders.

Kingsway Financial Services Stock Down 0.8%

Shares of NYSE KWY opened at $8.87 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.56. The company has a market cap of $256.79 million, a P/E ratio of -22.17 and a beta of 0.23. Kingsway Financial Services Inc has a 52 week low of $8.41 and a 52 week high of $16.51. The business has a 50-day simple moving average of $9.95 and a two-hundred day simple moving average of $11.48.

Kingsway Financial Services (NYSE:KWY) last announced 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.

Kingsway Financial Services 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.