Capricorn Fund Managers Ltd bought a new stake in shares of Kingsway Financial Services Inc (NYSE:KWY – Free Report) during the 1st quarter, HoldingsChannel reports. The firm bought 1,784,893 shares of the company’s stock, valued at approximately $18,616,000. Kingsway Financial Services comprises approximately 2.9% of Capricorn Fund Managers Ltd’s investment portfolio, making the stock its 7th largest position. Capricorn Fund Managers Ltd owned 0.06% of Kingsway Financial Services as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Legal & General Group Plc boosted its holdings in shares of Kingsway Financial Services by 66.2% during the second quarter. Legal & General Group Plc now owns 2,009 shares of the company’s stock worth $27,000 after purchasing an additional 800 shares during the period. Tower Research Capital LLC TRC increased its stake in Kingsway Financial Services by 220.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company’s stock valued at $52,000 after buying an additional 2,622 shares during the period. BNP Paribas Financial Markets increased its stake in Kingsway Financial Services by 143.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,141 shares of the company’s stock valued at $61,000 after buying an additional 2,442 shares during the period. Osaic Holdings Inc. lifted its position in Kingsway Financial Services by 17.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the company’s stock worth $94,000 after buying an additional 1,015 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the company’s stock worth $103,000 after buying an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 72.38% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded shares of 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, Based on data from MarketBeat, Kingsway Financial Services currently has a consensus rating of “Sell”.
Insider Activity at Kingsway Financial Services
In other Kingsway Financial Services news, CEO John Taylor Maloney Fitzgerald sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $10.13, for a total value of $50,650.00. Following the completion of the sale, the chief executive officer directly owned 29,100 shares of the company’s stock, valued at $294,783. The trade was a 14.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joshua Horowitz purchased 3,800 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $9.91 per share, for a total transaction of $37,658.00. Following the purchase, the director owned 372,000 shares in the company, valued at $3,686,520. The trade was a 1.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 5,430 shares of company stock worth $54,637. Insiders own 41.41% of the company’s stock.
Kingsway Financial Services Stock Up 1.2%
KWY opened at $10.43 on Wednesday. Kingsway Financial Services Inc has a fifty-two week low of $9.80 and a fifty-two week high of $16.80. The business has a 50-day moving average of $10.64 and a 200-day moving average of $12.23. The company has a debt-to-equity ratio of 3.56, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market capitalization of $301.95 million, a PE ratio of -26.07 and a beta of 0.23.
Kingsway Financial Services (NYSE:KWY – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter. The firm had revenue of $38.96 million during the quarter. Kingsway Financial Services had a negative net margin of 8.83% and a negative return on equity of 72.50%.
Kingsway Financial Services 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.
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