Short Interest in Kingstone Companies, Inc. (NASDAQ:KINS) Increases By 47.7%

Kingstone Companies, Inc. (NASDAQ:KINS - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 425,300 shares, an increase of 47.7% from the April 30th total of 288,000 shares. Approximately 3.9% of the company's shares are short sold. Based on an average trading volume of 359,800 shares, the short-interest ratio is currently 1.2 days.

Kingstone Companies Stock Down 1.8%

Kingstone Companies stock traded down $0.27 during trading hours on Thursday, hitting $14.99. The stock had a trading volume of 323,232 shares, compared to its average volume of 253,372. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $209.95 million, a P/E ratio of 11.53 and a beta of 0.60. Kingstone Companies has a 12-month low of $4.65 and a 12-month high of $22.40. The stock's 50-day moving average price is $17.03 and its 200-day moving average price is $16.27.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last issued its earnings results on Thursday, May 8th. The insurance provider reported $0.17 earnings per share (EPS) for the quarter. Kingstone Companies had a net margin of 10.60% and a return on equity of 32.55%. Equities research analysts anticipate that Kingstone Companies will post 1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas Newgarden bought 12,500 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average price of $16.77 per share, with a total value of $209,625.00. Following the purchase, the director now owns 51,715 shares of the company's stock, valued at approximately $867,260.55. This trade represents a 31.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KINS. JPMorgan Chase & Co. raised its holdings in shares of Kingstone Companies by 53,684.2% during the third quarter. JPMorgan Chase & Co. now owns 10,219 shares of the insurance provider's stock valued at $94,000 after purchasing an additional 10,200 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in Kingstone Companies during the fourth quarter valued at approximately $191,000. Angel Oak Capital Advisors LLC bought a new stake in Kingstone Companies during the fourth quarter valued at approximately $3,704,000. New York State Common Retirement Fund bought a new stake in Kingstone Companies during the fourth quarter valued at approximately $349,000. Finally, Bank of New York Mellon Corp bought a new stake in Kingstone Companies during the fourth quarter valued at approximately $428,000. 14.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Kingstone Companies from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.