Kingsway Financial Services (NYSE:KFS) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Kingsway Financial Services, Inc. (NYSE:KFS) (TSE:KFS)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.09 and traded as high as $14.60. Kingsway Financial Services shares last traded at $14.42, with a volume of 44,925 shares.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Kingsway Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, July 12th.

Kingsway Financial Services Stock Down 1.0%

The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.85. The stock’s fifty day simple moving average is $13.77 and its 200 day simple moving average is $10.09.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last posted its quarterly earnings data on Thursday, May 8th. The insurance provider reported ($0.13) earnings per share (EPS) for the quarter. Kingsway Financial Services had a negative net margin of 3.92% and a negative return on equity of 37.05%.

Insider Activity

In other news, Director Joseph Stilwell sold 128,243 shares of the company’s stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $14.03, for a total transaction of $1,799,249.29. Following the transaction, the director owned 487,713 shares in the company, valued at $6,842,613.39. This represents a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 523 shares of company stock worth $7,494 in the last 90 days. Corporate insiders own 54.75% of the company’s stock.

Hedge Funds Weigh In On Kingsway Financial Services

Several hedge funds have recently modified their holdings of KFS. Mirabella Financial Services LLP acquired a new position in shares of Kingsway Financial Services during the fourth quarter valued at about $13,392,000. Greenhaven Road Investment Management L.P. boosted its position in Kingsway Financial Services by 47.9% in the first quarter. Greenhaven Road Investment Management L.P. now owns 755,645 shares of the insurance provider’s stock valued at $5,985,000 after buying an additional 244,585 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in Kingsway Financial Services in the fourth quarter valued at approximately $410,000. Jane Street Group LLC purchased a new stake in Kingsway Financial Services in the first quarter valued at approximately $149,000. Finally, JPMorgan Chase & Co. boosted its position in Kingsway Financial Services by 63.4% in the fourth quarter. JPMorgan Chase & Co. now owns 46,627 shares of the insurance provider’s stock valued at $390,000 after buying an additional 18,095 shares during the last quarter. Institutional investors and hedge funds own 72.38% of the company’s stock.

About Kingsway Financial Services

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.