Belpointe Asset Management LLC Reduces Stock Position in Kingsway Financial Services, Inc. $KFS

Key Points

• Belpointe Asset Management LLC reduced its stock position in Kingsway Financial Services by 5.8%, now owning 385,058 shares valued at approximately $5.2 million at the end of the second quarter.
• Institutional investors and hedge funds collectively own 72.38% of Kingsway Financial Services, with varied changes in holdings from other firms, including Bank of America Corp DE increasing its stake by 36.5%.
• Kingsway Financial Services reported a quarterly loss with an EPS of ($0.13) and a negative return on equity of 40.69%, prompting analysts to maintain a consensus rating of "Sell" on its stock.

Belpointe Asset Management LLC cut its position in Kingsway Financial Services, Inc. (NYSE:KFS - Free Report) TSE: KFS by 5.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 385,058 shares of the insurance provider's stock after selling 23,797 shares during the period. Belpointe Asset Management LLC owned approximately 1.40% of Kingsway Financial Services worth $5,214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Private Advisor Group LLC increased its holdings in Kingsway Financial Services by 9.5% in the 1st quarter. Private Advisor Group LLC now owns 13,362 shares of the insurance provider's stock worth $106,000 after buying an additional 1,154 shares during the period. Bank of America Corp DE boosted its holdings in shares of 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. Goldman Sachs Group Inc. increased its stake in shares of Kingsway Financial Services by 11.2% in the first quarter. Goldman Sachs Group Inc. now owns 102,386 shares of the insurance provider's stock worth $811,000 after acquiring an additional 10,350 shares during the period. Virtu Financial LLC acquired a new stake in shares of Kingsway Financial Services in the first quarter worth $132,000. Finally, Citadel Advisors LLC purchased a new position in shares of Kingsway Financial Services during the fourth quarter worth $144,000. Institutional investors and hedge funds own 72.38% of the company's stock.

Kingsway Financial Services Stock Up 0.9%

KFS opened at $14.69 on Monday. The firm's fifty day simple moving average is $14.18 and its two-hundred day simple moving average is $12.25. Kingsway Financial Services, Inc. has a 52-week low of $7.06 and a 52-week high of $16.80. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.72.

Kingsway Financial Services (NYSE:KFS - Get Free Report) TSE: KFS last issued its quarterly earnings results on Thursday, August 7th. The insurance provider reported ($0.13) earnings per share (EPS) for the quarter. Kingsway Financial Services had a negative return on equity of 40.69% and a negative net margin of 4.46%.

Insider Activity

In other news, Director Joseph Stilwell sold 48,000 shares of Kingsway Financial Services stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $14.47, for a total transaction of $694,560.00. Following the transaction, the director owned 457,181 shares in the company, valued at $6,615,409.07. The trade was a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders acquired 1,385 shares of company stock valued at $20,000 and sold 239,429 shares valued at $3,409,173. 53.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kingsway Financial Services in a research note on Saturday, September 27th. Wall Street Zen raised Kingsway Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

Kingsway Financial Services 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.

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