Citadel Advisors LLC Purchases Shares of 114,832 Kingsway Financial Services Inc $KWY

Key Points

• Citadel Advisors acquired 114,832 Kingsway Financial Services shares worth approximately $1.2 million, giving it a 0.40% stake. Institutional investors collectively own 72.38% of the company.
• Kingsway’s shares opened at $9.67, near the lower end of their 52-week range, while the company reported a quarterly loss of $0.03 per share on $39.44 million in revenue. Its negative net margin and return on equity reflect ongoing profitability challenges.
• Analyst sentiment remains bearish: Weiss Ratings reiterated a “sell” rating, and MarketBeat data shows an overall “Sell” consensus. Insider activity was mixed, with a director selling 100,000 shares while another purchased 7,034 shares.

Citadel Advisors LLC acquired a new position in Kingsway Financial Services Inc (NYSE:KWY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 114,832 shares of the company's stock, valued at approximately $1,197,000. Citadel Advisors LLC owned about 0.40% of Kingsway Financial Services as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc raised its position in Kingsway Financial Services by 66.2% in the second quarter. Legal & General Group Plc now owns 2,009 shares of the company's stock valued at $27,000 after purchasing an additional 800 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Kingsway Financial Services by 220.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company's stock worth $52,000 after buying an additional 2,622 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Kingsway Financial Services by 143.7% in the third 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 in the last quarter. Osaic Holdings Inc. grew its stake in shares of Kingsway Financial Services by 17.2% in the second quarter. Osaic Holdings Inc. now owns 6,925 shares of the company's stock valued at $94,000 after buying an additional 1,015 shares in the last quarter. Finally, Bank of America Corp DE raised 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 company's stock valued at $103,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 72.38% of the company's stock.

Kingsway Financial Services Trading Up 0.2%

Shares of KWY stock opened at $9.67 on Friday. Kingsway Financial Services Inc has a fifty-two week low of $8.41 and a fifty-two week high of $16.51. The company has a 50 day moving average price of $9.76 and a 200 day moving average price of $10.89. The stock has a market capitalization of $279.75 million, a P/E ratio of -32.23 and a beta of 0.25. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.36 and a current ratio of 1.36.

Kingsway Financial Services (NYSE:KWY - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share (EPS) for the quarter. Kingsway Financial Services had a negative return on equity of 61.62% and a negative net margin of 6.69%.The business had revenue of $39.44 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Kingsway Financial Services in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

Insiders Place Their Bets

In related news, Director Joseph Stilwell sold 100,000 shares of Kingsway Financial Services stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $10.00, for a total value of $1,000,000.00. Following the completion of the transaction, the director directly owned 267,018 shares in the company, valued at approximately $2,670,180. This trade represents a 27.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joshua Horowitz bought 7,034 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $9.84 per share, with a total value of $69,214.56. Following the completion of the purchase, the director directly owned 380,334 shares in the company, valued at $3,742,486.56. This represents a 1.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 10,353 shares of company stock worth $101,997 in the last ninety days. Corporate insiders own 41.41% of the company's stock.

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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