Joshua Horowitz Buys 7,034 Shares of Kingsway Financial Services (NYSE:KWY) Stock

Kingsway Financial Services Inc (NYSE:KWY) Director Joshua Horowitz acquired 7,034 shares of Kingsway Financial Services stock in a transaction that occurred on Wednesday, August 19th. The stock was bought at an average price of $9.84 per share, for a total transaction of $69,214.56. Following the completion of the acquisition, the director owned 380,334 shares in the company, valued at $3,742,486.56. This trade represents a 1.88% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Joshua Horowitz also recently made the following trade(s):

• On Thursday, August 20th, Joshua Horowitz bought 769 shares of Kingsway Financial Services stock. The shares were bought at an average cost of $9.89 per share, with a total value of $7,605.41.
• On Tuesday, August 18th, Joshua Horowitz bought 1,300 shares of Kingsway Financial Services stock. The shares were bought at an average cost of $9.75 per share, with a total value of $12,675.00.
• On Friday, May 29th, Joshua Horowitz purchased 3,800 shares of Kingsway Financial Services stock. The shares were bought at an average price of $9.91 per share, with a total value of $37,658.00.
• On Thursday, May 28th, Joshua Horowitz purchased 700 shares of Kingsway Financial Services stock. The stock was bought at an average cost of $9.95 per share, for a total transaction of $6,965.00.

Kingsway Financial Services Stock Performance

Shares of KWY stock opened at $10.40 on Friday. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market cap of $300.87 million, a P/E ratio of -34.67 and a beta of 0.24. The firm’s 50 day moving average price is $9.84 and its 200-day moving average price is $11.18. Kingsway Financial Services Inc has a one year low of $8.41 and a one year high of $16.51.

Kingsway Financial Services (NYSE:KWY) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter. The company 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%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KWY. Rhumbline Advisers increased its stake in Kingsway Financial Services by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 26,495 shares of the company’s stock worth $387,000 after buying an additional 741 shares during the period. Legal & General Group Plc boosted its position in Kingsway Financial Services by 66.2% in the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the company’s stock valued at $27,000 after buying an additional 800 shares during the period. Osaic Holdings Inc. grew its stake in shares of Kingsway Financial Services by 17.2% in the second quarter. Osaic Holdings Inc. now owns 6,925 shares of the company’s stock worth $94,000 after acquiring an additional 1,015 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Kingsway Financial Services by 9.8% in the fourth quarter. Deutsche Bank AG now owns 17,669 shares of the company’s stock worth $238,000 after acquiring an additional 1,581 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Kingsway Financial Services by 4.8% during the second quarter. Bank of America Corp DE now owns 34,992 shares of the company’s stock worth $474,000 after acquiring an additional 1,592 shares during the period. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Kingsway Financial Services Company 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.