Kingsway Financial Services (NYSE:KWY) Stock Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Kingsway Financial Services Inc (NYSE:KWY)’s stock price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.73 and traded as high as $9.94. Kingsway Financial Services shares last traded at $9.92, with a volume of 64,539 shares.

Wall Street Analyst Weigh In

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

Kingsway Financial Services Stock Up 3.1%

The stock has a market capitalization of $286.99 million, a price-to-earnings ratio of -33.07 and a beta of 0.25. The firm has a 50-day moving average of $9.73 and a 200 day moving average of $10.66. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 4.39.

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

Insiders Place Their Bets

In other news, Director Joshua Horowitz purchased 2,717 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average price of $9.28 per share, with a total value of $25,213.76. Following the purchase, the director directly owned 383,820 shares of the company’s stock, valued at approximately $3,561,849.60. This represents a 0.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Stilwell sold 100,000 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $10.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director owned 267,018 shares in the company, valued at $2,670,180. This represents a 27.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 14,051 shares of company stock valued at $136,106. Company insiders own 41.41% of the company’s stock.

Institutional Trading of Kingsway Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of KWY. State Street Corp acquired a new stake in Kingsway Financial Services during the 2nd quarter valued at approximately $3,105,000. Citadel Advisors LLC acquired a new position in shares of Kingsway Financial Services in the 2nd quarter valued at approximately $1,197,000. Waverly Advisors LLC acquired a new position in shares of Kingsway Financial Services in the 1st quarter valued at approximately $1,304,000. Squarepoint Ops LLC acquired a new position in shares of Kingsway Financial Services in the 2nd quarter valued at approximately $791,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Kingsway Financial Services by 22.3% during the 1st quarter. Renaissance Technologies LLC now owns 319,670 shares of the company’s stock valued at $3,334,000 after buying an additional 58,290 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

About Kingsway Financial Services

Kingsway Financial Services Inc (NYSE:KWY) is a Canadian-based holding company that owns and operates businesses in the specialty insurance and insurance-services sectors. Its portfolio includes companies providing specialty insurance products, extended warranty programs, and related administrative and claims services.

Historically, Kingsway operated primarily as a specialty insurance provider, including nonstandard automobile insurance businesses in the United States and Canada. The company has since focused on managing and developing a diversified group of insurance and non-insurance subsidiaries, with operations serving customers principally in North America.

Kingsway was founded in 1989 and is headquartered in Toronto, Ontario.