Kingsway Financial Services (NYSE:KFS) Director Sells $288,000.00 in Stock

Key Points

• Joseph Stilwell, a director at Kingsway Financial Services, sold 20,000 shares of the company's stock on September 16th for a total of $288,000, reducing his ownership by 4.15%.
• In addition to the recent sale, Stilwell had multiple transactions recently totaling over $2.4 million in stock sales, which raises concerns about insider selling activities.
• Kingsway Financial's stock price has been volatile, with a 1-year low of $7.06 and a high of $16.80, and its current share price is $14.55.

Kingsway Financial Services, Inc. (NYSE:KFS - Get Free Report) TSE: KFS Director Joseph Stilwell sold 20,000 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $14.40, for a total transaction of $288,000.00. Following the completion of the sale, the director owned 462,236 shares of the company's stock, valued at approximately $6,656,198.40. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Joseph Stilwell also recently made the following trade(s):

• On Wednesday, September 17th, Joseph Stilwell sold 48,000 shares of Kingsway Financial Services stock. The shares were sold at an average price of $14.47, for a total value of $694,560.00.
• On Monday, September 8th, Joseph Stilwell sold 25,000 shares of Kingsway Financial Services stock. The stock was sold at an average price of $14.41, for a total value of $360,250.00.
• On Friday, August 22nd, Joseph Stilwell sold 75,000 shares of Kingsway Financial Services stock. The stock was sold at an average price of $14.18, for a total transaction of $1,063,500.00.
• On Monday, August 18th, Joseph Stilwell sold 71,429 shares of Kingsway Financial Services stock. The shares were sold at an average price of $14.04, for a total value of $1,002,863.16.
• On Monday, June 30th, Joseph Stilwell sold 32,978 shares of Kingsway Financial Services stock. The shares were sold at an average price of $13.90, for a total transaction of $458,394.20.
• On Friday, June 27th, Joseph Stilwell sold 128,243 shares of Kingsway Financial Services stock. The shares were sold at an average price of $14.03, for a total value of $1,799,249.29.

Kingsway Financial Services Price Performance

Kingsway Financial Services stock traded down $0.06 during midday trading on Friday, reaching $14.47. 423,590 shares of the stock were exchanged, compared to its average volume of 63,527. Kingsway Financial Services, Inc. has a 52 week low of $7.06 and a 52 week high of $16.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.54 and a current ratio of 0.54. The company's fifty day moving average is $14.17 and its 200-day moving average is $11.71.

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

Hedge Funds Weigh In On Kingsway Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. boosted its stake in shares of Kingsway Financial Services by 17.2% during the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the insurance provider's stock valued at $94,000 after purchasing an additional 1,015 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Kingsway Financial Services by 220.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the insurance provider's stock worth $52,000 after buying an additional 2,622 shares during the period. Bank of America Corp DE increased its stake in shares of Kingsway Financial Services by 4.8% in the 2nd quarter. Bank of America Corp DE now owns 34,992 shares of the insurance provider's stock worth $474,000 after acquiring an additional 1,592 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kingsway Financial Services by 27.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,924 shares of the insurance provider's stock valued at $134,000 after acquiring an additional 2,132 shares during the period. Finally, 1060 Capital LLC purchased a new stake in Kingsway Financial Services in the second quarter worth about $1,021,000. 72.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Kingsway Financial Services from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th.

Kingsway Financial Services Company 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.