Kingsway Financial Services (NYSE:KFS) Stock Price Passes Above 200-Day Moving Average - Here's Why

Kingsway Financial Services Inc. (NYSE:KFS - Get Free Report) TSE: KFS's share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.83 and traded as high as $13.89. Kingsway Financial Services shares last traded at $13.75, with a volume of 24,294 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Kingsway Financial Services from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

Kingsway Financial Services Stock Performance

The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.20. The business has a 50-day moving average price of $10.30 and a two-hundred day moving average price of $8.83.

Kingsway Financial Services (NYSE:KFS - Get Free Report) TSE: KFS last issued its quarterly earnings data on Thursday, May 8th. The insurance provider reported ($0.13) earnings per share for the quarter. Kingsway Financial Services had a negative net margin of 3.63% and a negative return on equity of 7.83%.

Insider Activity

In related news, Director Joseph Stilwell sold 1,000,000 shares of Kingsway Financial Services stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $8.00, for a total transaction of $8,000,000.00. Following the sale, the director now directly owns 498,937 shares in the company, valued at $3,991,496. The trade was a 66.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 53.83% of the company's stock.

Institutional Trading of Kingsway Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC increased its stake in shares of Kingsway Financial Services by 9.5% during the first quarter. Private Advisor Group LLC now owns 13,362 shares of the insurance provider's stock valued at $106,000 after acquiring an additional 1,154 shares during the period. Greenhaven Road Investment Management L.P. boosted its stake in Kingsway Financial Services by 0.3% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 511,060 shares of the insurance provider's stock valued at $4,278,000 after buying an additional 1,769 shares in the last quarter. Barclays PLC grew its holdings in Kingsway Financial Services by 10.2% during the fourth quarter. Barclays PLC now owns 20,126 shares of the insurance provider's stock worth $169,000 after acquiring an additional 1,857 shares during the period. Wells Fargo & Company MN grew its holdings in Kingsway Financial Services by 50.0% during the fourth quarter. Wells Fargo & Company MN now owns 5,937 shares of the insurance provider's stock worth $50,000 after acquiring an additional 1,980 shares during the period. Finally, Bank of America Corp DE raised its position in Kingsway Financial Services by 36.5% in the fourth quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider's stock worth $103,000 after acquiring an additional 3,300 shares in the last quarter. 72.38% of the stock is currently owned by institutional investors.

About Kingsway Financial Services

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.