Kingsway Financial Services (NYSE:KFS) Downgraded by Wall Street Zen to Sell

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Kingsway Financial Services Stock Down 0.6%

NYSE:KFS opened at $11.27 on Wednesday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.20. Kingsway Financial Services has a fifty-two week low of $7.06 and a fifty-two week high of $11.85. The firm’s fifty day simple moving average is $8.52 and its 200-day simple moving average is $8.35.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last posted its quarterly earnings results on Thursday, May 8th. The insurance provider reported ($0.13) earnings per share for the quarter. Kingsway Financial Services had a negative return on equity of 7.83% and a negative net margin of 3.63%.

Insider Buying and Selling

In related news, Director Joseph Stilwell sold 1,000,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.00, for a total value of $8,000,000.00. Following the sale, the director now directly owns 498,937 shares of the company’s stock, valued at approximately $3,991,496. This represents a 66.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 53.83% of the company’s stock.

Institutional Investors Weigh In On Kingsway Financial Services

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its stake in Kingsway Financial Services by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,937 shares of the insurance provider’s stock valued at $50,000 after acquiring an additional 1,980 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Kingsway Financial Services in the 4th quarter valued at about $102,000. Bank of America Corp DE grew its stake in Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider’s stock valued at $103,000 after acquiring an additional 3,300 shares during the last quarter. Townsquare Capital LLC acquired a new stake in Kingsway Financial Services in the 4th quarter valued at about $108,000. Finally, Virtu Financial LLC acquired a new stake in Kingsway Financial Services in the 1st quarter valued at about $132,000. 72.38% of the stock is owned by institutional investors and hedge funds.

Kingsway Financial Services Company Profile

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.