Kingstone Companies, Inc. (NASDAQ:KINS) Short Interest Down 34.9% in April

Kingstone Companies, Inc. (NASDAQ:KINSGet Rating) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,900 shares, a decrease of 34.9% from the March 31st total of 10,600 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 8,000 shares, the short-interest ratio is presently 0.9 days.

Separately, Zacks Investment Research raised Kingstone Companies from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Wednesday, April 13th.

Shares of Kingstone Companies stock opened at $4.21 on Friday. The stock has a 50 day moving average of $5.03 and a 200 day moving average of $5.20. Kingstone Companies has a 12 month low of $4.06 and a 12 month high of $8.73. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.44 and a quick ratio of 0.44.

Kingstone Companies (NASDAQ:KINSGet Rating) last announced its quarterly earnings results on Thursday, March 10th. The insurance provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.08). Kingstone Companies had a negative net margin of 4.58% and a negative return on equity of 18.18%. The firm had revenue of $43.17 million for the quarter, compared to the consensus estimate of $39.43 million. During the same period in the previous year, the company posted $0.05 earnings per share. As a group, analysts forecast that Kingstone Companies will post 0.11 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Friday, February 25th. Kingstone Companies’s payout ratio is presently -22.54%.

Hedge funds have recently modified their holdings of the business. Eidelman Virant Capital raised its position in Kingstone Companies by 54.0% during the fourth quarter. Eidelman Virant Capital now owns 124,642 shares of the insurance provider’s stock valued at $624,000 after purchasing an additional 43,726 shares during the period. ACR Alpine Capital Research LLC raised its position in Kingstone Companies by 23.7% during the fourth quarter. ACR Alpine Capital Research LLC now owns 359,974 shares of the insurance provider’s stock valued at $1,800,000 after purchasing an additional 68,889 shares during the period. BlackRock Inc. raised its position in Kingstone Companies by 16.5% during the third quarter. BlackRock Inc. now owns 145,594 shares of the insurance provider’s stock valued at $966,000 after purchasing an additional 20,614 shares during the period. Advisor Group Holdings Inc. raised its position in Kingstone Companies by 12.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 56,982 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 6,319 shares during the period. Finally, Gator Capital Management LLC purchased a new stake in Kingstone Companies during the fourth quarter valued at approximately $1,694,000. Institutional investors and hedge funds own 44.34% of the company’s stock.

Kingstone Companies Company Profile (Get Rating)

Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.

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