Kingstone Companies (NASDAQ:KINS) Share Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Kingstone Companies' share price fell below its 200-day moving average, trading at $13.90 as of Monday, while the 200-day moving average is $16.21.
• Wall Street analysts have downgraded Kingstone Companies from a "buy" to a "hold" rating, reflecting concerns about its current market position.
• The company reported a strong earnings performance, with earnings per share of $0.75, surpassing expectations by $0.20, alongside a revenue of $59.80 million for the last quarter.

Kingstone Companies, Inc (NASDAQ:KINS - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.21 and traded as low as $13.35. Kingstone Companies shares last traded at $13.90, with a volume of 241,878 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Kingstone Companies from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th.

Kingstone Companies Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.47 and a current ratio of 0.47. The business has a 50 day moving average price of $15.30 and a two-hundred day moving average price of $16.21. The company has a market cap of $194.74 million, a P/E ratio of 6.95 and a beta of 0.52.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last released its earnings results on Thursday, August 7th. The insurance provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.20. Kingstone Companies had a return on equity of 36.24% and a net margin of 14.84%. The company had revenue of $59.80 million during the quarter, compared to analyst estimates of $45.20 million. On average, sell-side analysts anticipate that Kingstone Companies, Inc will post 1.4 earnings per share for the current year.

Kingstone Companies Dividend Announcement

The business also recently announced a -- dividend, which will be paid on Tuesday, August 26th. Stockholders of record on Monday, August 11th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 11th. Kingstone Companies's payout ratio is 10.00%.

Insider Buying and Selling at Kingstone Companies

In other Kingstone Companies news, Director Thomas Newgarden purchased 12,500 shares of the stock in a transaction on Tuesday, May 27th. The stock was acquired at an average price of $16.77 per share, with a total value of $209,625.00. Following the transaction, the director directly owned 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KINS. Millennium Management LLC raised its position in Kingstone Companies by 484.9% during the 1st quarter. Millennium Management LLC now owns 285,834 shares of the insurance provider's stock valued at $4,759,000 after purchasing an additional 236,968 shares during the last quarter. Marshall Wace LLP raised its position in Kingstone Companies by 223.5% during the 4th quarter. Marshall Wace LLP now owns 282,181 shares of the insurance provider's stock valued at $4,286,000 after purchasing an additional 194,952 shares during the last quarter. De Lisle Partners LLP raised its position in Kingstone Companies by 179.5% during the 2nd quarter. De Lisle Partners LLP now owns 267,488 shares of the insurance provider's stock valued at $4,120,000 after purchasing an additional 171,778 shares during the last quarter. Raymond James Financial Inc. bought a new position in Kingstone Companies during the 4th quarter valued at approximately $2,371,000. Finally, Geode Capital Management LLC raised its position in Kingstone Companies by 130.9% during the 2nd quarter. Geode Capital Management LLC now owns 253,624 shares of the insurance provider's stock valued at $3,909,000 after purchasing an additional 143,806 shares during the last quarter. Institutional investors own 14.91% of the company's stock.

About Kingstone Companies

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.

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