Kingsway Financial Services, Inc. (NYSE:KFS) Short Interest Up 22.8% in January

Kingsway Financial Services, Inc. (NYSE:KFS) (TSE:KFS) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 1,137,464 shares, a growth of 22.8% from the December 31st total of 926,523 shares. Based on an average daily trading volume, of 122,709 shares, the days-to-cover ratio is currently 9.3 days. Currently, 8.7% of the company’s shares are sold short. Currently, 8.7% of the company’s shares are sold short. Based on an average daily trading volume, of 122,709 shares, the days-to-cover ratio is currently 9.3 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Kingsway Financial Services in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Kingsway Financial Services Stock Performance

Shares of KFS opened at $13.52 on Wednesday. The firm has a market cap of $391.48 million, a price-to-earnings ratio of -37.55 and a beta of 0.19. The company’s fifty day moving average is $13.04 and its 200-day moving average is $13.76. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.74. Kingsway Financial Services has a 12 month low of $7.06 and a 12 month high of $16.80.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last released its quarterly earnings data on Thursday, November 6th. The insurance provider reported ($0.10) earnings per share (EPS) for the quarter. Kingsway Financial Services had a negative net margin of 8.55% and a negative return on equity of 76.94%.

Insider Activity

In related news, CEO John Taylor Maloney Fitzgerald sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $13.32, for a total value of $399,600.00. Following the completion of the sale, the chief executive officer owned 1,459,534 shares in the company, valued at approximately $19,440,992.88. This represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Stilwell sold 67,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $12.80, for a total transaction of $864,000.00. Following the completion of the transaction, the director directly owned 579,404 shares of the company’s stock, valued at $7,416,371.20. This represents a 10.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 755 shares of company stock valued at $10,012 and sold 216,427 shares valued at $2,786,566. Company insiders own 54.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mirabella Financial Services LLP lifted its holdings in Kingsway Financial Services by 13.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 2,189,905 shares of the insurance provider’s stock worth $32,016,000 after purchasing an additional 255,319 shares during the last quarter. Greenhaven Road Investment Management L.P. raised its position in shares of Kingsway Financial Services by 73.4% in the second quarter. Greenhaven Road Investment Management L.P. now owns 1,310,536 shares of the insurance provider’s stock valued at $17,745,000 after purchasing an additional 554,891 shares during the period. Vanguard Group Inc. lifted its stake in shares of Kingsway Financial Services by 12.5% in the third quarter. Vanguard Group Inc. now owns 948,838 shares of the insurance provider’s stock worth $13,872,000 after buying an additional 105,080 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Kingsway Financial Services by 20.2% in the second quarter. Geode Capital Management LLC now owns 426,836 shares of the insurance provider’s stock worth $5,780,000 after buying an additional 71,720 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Kingsway Financial Services by 11.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider’s stock worth $811,000 after buying an additional 10,350 shares during the period. Institutional investors and hedge funds own 72.38% of the company’s stock.

About Kingsway Financial Services

Kingsway Financial Services, Inc (NYSE: KFS) is a specialty finance company focused on the acquisition, origination and servicing of residential mortgage loans and related assets in the United States. Through strategic portfolio purchases and direct origination channels, Kingsway builds a diversified mix of mortgage assets, including prime, non-QM and other specialty loan products.

The company’s principal activities include investing in and managing mortgage servicing rights (MSRs), holding mortgage loans for investment, and acquiring residential mortgage-backed securities (RMBS).