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

Key Points

• Kingsway Financial Services' stock has crossed above its 200-day moving average, with the latest trading price at $14.37, up from a moving average of $11.62.
• Wall Street analysts have upgraded the stock's rating from "sell" to "hold", signaling a shift in investor sentiment.
• Company insiders have recently sold a significant number of shares, with director Joseph Stilwell selling 25,000 shares, indicating possible concerns about future performance.

Kingsway Financial Services, Inc. (NYSE:KFS - Get Free Report) TSE: KFS's stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.62 and traded as high as $14.75. Kingsway Financial Services shares last traded at $14.37, with a volume of 170,186 shares trading hands.

Analyst Ratings Changes

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

Kingsway Financial Services Stock Down 0.4%

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.72. The company has a 50 day simple moving average of $14.17 and a two-hundred day simple moving average of $11.77.

Kingsway Financial Services (NYSE:KFS - Get Free Report) TSE: KFS last posted 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 return on equity of 40.69% and a negative net margin of 4.46%.

Insiders Place Their Bets

In other Kingsway Financial Services news, Director Joseph Stilwell sold 128,243 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $14.03, for a total value of $1,799,249.29. Following the completion of the transaction, the director directly owned 487,713 shares in the company, valued at $6,842,613.39. This represents a 20.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 1,393 shares of company stock valued at $20,008 and sold 400,650 shares valued at $5,666,817. 54.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its stake in Kingsway Financial Services by 110.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,851 shares of the insurance provider's stock worth $25,000 after purchasing an additional 972 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Kingsway Financial Services during the 2nd quarter valued at approximately $26,000. Legal & General Group Plc boosted its position in shares of Kingsway Financial Services by 66.2% during the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the insurance provider's stock valued at $27,000 after acquiring an additional 800 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Kingsway Financial Services during the 2nd quarter valued at approximately $42,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Kingsway Financial Services by 220.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the insurance provider's stock valued at $52,000 after acquiring an additional 2,622 shares during 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.