Insider Buying: Kingsway Financial Services (NYSE:KWY) Director Purchases 2,717 Shares of Company Stock

Key Points

• Director Joshua Horowitz bought 2,717 Kingsway Financial Services shares at an average price of $9.28, investing $25,213.76 and increasing his holdings by 0.71% to 383,820 shares.
• Horowitz has made several recent purchases, including 858 shares on September 30 and 9,103 shares across three transactions in August, indicating continued insider buying.
• KWY shares rose 2.5% to $9.42, but the company reported a quarterly loss of $0.03 per share and analysts maintain a consensus “Sell” rating.

Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) Director Joshua Horowitz bought 2,717 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average price of $9.28 per share, with a total value of $25,213.76. Following the completion of the acquisition, the director owned 383,820 shares of the company's stock, valued at $3,561,849.60. This trade represents a 0.71% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Joshua Horowitz also recently made the following trade(s):

• On Wednesday, September 30th, Joshua Horowitz acquired 858 shares of Kingsway Financial Services stock. The stock was purchased at an average price of $9.23 per share, for a total transaction of $7,919.34.
• On Thursday, August 20th, Joshua Horowitz purchased 769 shares of Kingsway Financial Services stock. The stock was acquired at an average price of $9.89 per share, for a total transaction of $7,605.41.
• On Wednesday, August 19th, Joshua Horowitz bought 7,034 shares of Kingsway Financial Services stock. The stock was acquired at an average cost of $9.84 per share, for a total transaction of $69,214.56.
• On Tuesday, August 18th, Joshua Horowitz bought 1,300 shares of Kingsway Financial Services stock. The stock was acquired at an average cost of $9.75 per share, for a total transaction of $12,675.00.

Kingsway Financial Services Stock Up 2.5%

Shares of NYSE:KWY traded up $0.23 during midday trading on Wednesday, hitting $9.42. 138,506 shares of the company's stock traded hands, compared to its average volume of 72,469. The firm's fifty day moving average price is $9.66 and its two-hundred day moving average price is $10.49. 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 Inc has a twelve month low of $8.41 and a twelve month high of $16.51. The company has a market cap of $272.53 million, a PE ratio of -31.40 and a beta of 0.25.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. State Street Corp purchased a new stake in Kingsway Financial Services during the 2nd quarter worth approximately $3,105,000. Squarepoint Ops LLC acquired a new position in shares of Kingsway Financial Services in the 2nd quarter valued at approximately $791,000. Citadel Advisors LLC purchased a new position in shares of Kingsway Financial Services during the 2nd quarter valued at approximately $1,197,000. Bank of America Corp DE boosted its stake in shares of Kingsway Financial Services by 6.7% during the 1st quarter. Bank of America Corp DE now owns 46,605 shares of the company's stock valued at $486,000 after buying an additional 2,923 shares during the last quarter. Finally, Waverly Advisors LLC acquired a new stake in shares of Kingsway Financial Services during the first quarter worth approximately $1,304,000. Institutional investors and hedge funds own 72.38% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Kingsway Financial Services from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of "Sell".

Kingsway Financial Services Company Profile

Kingsway Financial Services Inc is a specialty insurance and holding company that operates primarily in the United States. The company focuses on niche insurance and insurance-related businesses rather than broad-based personal lines coverage.

Kingsway's operating businesses include providers of vehicle service agreements and other extended warranty products, as well as specialty insurance and insurance services. Its portfolio has included businesses serving automotive dealers, vehicle owners, commercial customers and other specialized markets.

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