Kingstone Companies (NASDAQ:KINS) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Kingstone Companies, Inc (NASDAQ:KINS - Get Free Report)'s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.20 and traded as low as $15.10. Kingstone Companies shares last traded at $15.32, with a volume of 131,825 shares trading hands.

Wall Street Analysts Forecast Growth

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

Kingstone Companies Trading Down 0.6%

The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.07. The company's fifty day moving average is $16.30 and its 200-day moving average is $16.19. The firm has a market capitalization of $218.00 million, a P/E ratio of 9.79 and a beta of 0.57.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The insurance provider reported $0.17 earnings per share (EPS) for the quarter. Kingstone Companies had a net margin of 12.25% and a return on equity of 31.92%. As a group, sell-side analysts anticipate that Kingstone Companies, Inc will post 1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas Newgarden purchased 12,500 shares of Kingstone Companies stock in a transaction on Tuesday, May 27th. The stock was purchased at an average cost of $16.77 per share, with a total value of $209,625.00. Following the acquisition, the director directly owned 51,715 shares in the company, valued at approximately $867,260.55. This trade represents a 31.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 5.10% of the stock is currently owned by company insiders.

Institutional Trading of Kingstone Companies

A number of hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new position in shares of Kingstone Companies during the 4th quarter worth about $26,000. Janney Montgomery Scott LLC bought a new position in shares of Kingstone Companies during the 1st quarter worth about $271,000. Raymond James Financial Inc. bought a new position in shares of Kingstone Companies during the 4th quarter worth about $2,371,000. Squarepoint Ops LLC bought a new position in shares of Kingstone Companies during the 4th quarter worth about $331,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Kingstone Companies during the 4th quarter worth about $428,000. 14.91% of the stock is owned by institutional investors.

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.