Kingsway Financial Services, Inc. $KFS Shares Purchased by Mirabella Financial Services LLP

Key Points

• Mirabella Financial Services increased its stake in Kingsway by 13.2% in Q3 to 2,189,905 shares (about 7.56% of the company), a holding worth roughly $32.0 million and its 5th largest position.
• Kingsway's recent results show weakness: shares are down 2.3%, market cap ~ $311.6M, last-quarter EPS of -$0.07 with a negative net margin and ROE, and a high debt-to-equity ratio of 4.07.
• Insiders have been selling (the director sold 19,229 shares and the CEO sold 30,000), and analyst sentiment is negative—Weiss Ratings reiterated a "sell (d-)" and the stock's average rating is "Sell."

Mirabella Financial Services LLP grew its position in shares of Kingsway Financial Services, Inc. (NYSE:KFS - Free Report) TSE: KFS by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,189,905 shares of the insurance provider's stock after acquiring an additional 255,319 shares during the quarter. Kingsway Financial Services comprises 2.7% of Mirabella Financial Services LLP's holdings, making the stock its 5th largest holding. Mirabella Financial Services LLP owned 7.56% of Kingsway Financial Services worth $32,016,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KFS. Ameritas Investment Partners Inc. lifted its holdings in shares of Kingsway Financial Services by 110.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,851 shares of the insurance provider's stock worth $25,000 after purchasing an additional 972 shares in the last quarter. Legal & General Group Plc raised its holdings in Kingsway Financial Services by 66.2% during the second quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider's stock worth $27,000 after buying an additional 800 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Kingsway Financial Services during the second quarter worth $42,000. Tower Research Capital LLC TRC lifted its stake in shares of Kingsway Financial Services by 220.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the insurance provider's stock valued at $52,000 after buying an additional 2,622 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted 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 insurance provider's stock valued at $61,000 after buying an additional 2,442 shares in the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.

Kingsway Financial Services Stock Down 2.3%

Shares of NYSE:KFS opened at $10.77 on Thursday. The company has a market capitalization of $311.65 million, a PE ratio of -25.03 and a beta of 0.22. The company has a debt-to-equity ratio of 4.07, a current ratio of 2.50 and a quick ratio of 2.50. The business has a fifty day moving average price of $12.49 and a two-hundred day moving average price of $13.32. Kingsway Financial Services, Inc. has a 1 year low of $7.28 and a 1 year high of $16.80.

Kingsway Financial Services (NYSE:KFS - Get Free Report) TSE: KFS last announced its earnings results on Thursday, March 12th. The insurance provider reported ($0.07) earnings per share (EPS) for the quarter. The business had revenue of $38.53 million for the quarter. Kingsway Financial Services had a negative net margin of 10.07% and a negative return on equity of 86.90%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Kingsway Financial Services in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of "Sell".

Insider Transactions at Kingsway Financial Services

In other Kingsway Financial Services news, Director Joseph Stilwell sold 19,229 shares of the business's stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $12.80, for a total value of $246,131.20. Following the transaction, the director directly owned 300,000 shares in the company, valued at $3,840,000. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Taylor Maloney Fitzgerald sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $13.32, for a total transaction of $399,600.00. Following the transaction, the chief executive officer directly owned 1,459,534 shares of the company's stock, valued at $19,440,992.88. This represents a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 804 shares of company stock valued at $10,009 in the last 90 days. 53.83% of the stock is currently owned by corporate insiders.

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).

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