Wall Street Zen Upgrades Kingsway Financial Services (NYSE:KFS) to “Hold”

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Kingsway Financial Services Trading Down 3.3%

Shares of NYSE KFS opened at $13.45 on Friday. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 1.85. Kingsway Financial Services has a 1 year low of $7.06 and a 1 year high of $16.80. The firm’s 50-day moving average is $14.11 and its 200-day moving average is $10.42.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last released its quarterly earnings data on Thursday, August 7th. The insurance provider reported ($0.13) earnings per share for the quarter. Kingsway Financial Services had a negative return on equity of 51.10% and a negative net margin of 4.46%.

Insiders Place Their Bets

In other Kingsway Financial Services news, Director Joseph Stilwell sold 128,243 shares of Kingsway Financial Services stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $14.03, for a total value of $1,799,249.29. Following the transaction, the director owned 487,713 shares of the company’s stock, valued at approximately $6,842,613.39. The trade was a 20.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 697 shares of company stock valued at $10,003 over the last 90 days. Insiders own 53.83% of the company’s stock.

Hedge Funds Weigh In On Kingsway Financial Services

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 18,095 shares during the period. Wells Fargo & Company MN lifted its position in Kingsway Financial Services by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,937 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 1,980 shares during the period. Townsquare Capital LLC bought a new stake in Kingsway Financial Services during the fourth quarter worth about $108,000. Barclays PLC lifted its position in Kingsway Financial Services by 10.2% during the fourth quarter. Barclays PLC now owns 20,126 shares of the insurance provider’s stock worth $169,000 after purchasing an additional 1,857 shares during the period. Finally, Greenhaven Road Investment Management L.P. lifted its position in Kingsway Financial Services by 0.3% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 511,060 shares of the insurance provider’s stock worth $4,278,000 after purchasing an additional 1,769 shares during the period. 72.38% of the stock is currently 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.