StockNews.com Downgrades Kingsway Financial Services (NYSE:KFS) to Sell

Kingsway Financial Services (NYSE:KFSGet Free Report) (TSE:KFS) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Kingsway Financial Services Trading Down 0.6 %

Shares of Kingsway Financial Services stock opened at $8.00 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.57 and a quick ratio of 0.57. Kingsway Financial Services has a 52 week low of $6.25 and a 52 week high of $9.48. The stock has a 50 day moving average price of $8.32 and a two-hundred day moving average price of $8.40.

Kingsway Financial Services (NYSE:KFSGet Free Report) (TSE:KFS) last posted its earnings results on Wednesday, May 8th. The insurance provider reported ($0.08) earnings per share for the quarter. Kingsway Financial Services had a negative net margin of 6.57% and a negative return on equity of 24.36%. The company had revenue of $26.16 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Swedbank AB bought a new position in shares of Kingsway Financial Services in the first quarter valued at approximately $2,085,000. Vanguard Group Inc. lifted its holdings in Kingsway Financial Services by 3.2% during the first quarter. Vanguard Group Inc. now owns 487,353 shares of the insurance provider’s stock worth $4,065,000 after acquiring an additional 14,981 shares during the period. BNP Paribas Financial Markets lifted its holdings in Kingsway Financial Services by 193.0% during the first quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock worth $81,000 after acquiring an additional 6,376 shares during the period. Greenhaven Road Investment Management L.P. lifted its holdings in Kingsway Financial Services by 26.2% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 403,395 shares of the insurance provider’s stock worth $3,388,000 after acquiring an additional 83,641 shares during the period. Finally, Wasatch Advisors LP lifted its holdings in Kingsway Financial Services by 14.6% during the fourth quarter. Wasatch Advisors LP now owns 828,552 shares of the insurance provider’s stock worth $6,960,000 after acquiring an additional 105,751 shares during the period. Institutional investors own 72.38% of the company’s stock.

About Kingsway Financial Services

(Get Free Report)

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.

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