Kingsway Financial Services (NYSE:KWY) Director Buys $12,675.00 in Stock

Key Points

• Director Joshua Horowitz purchased 1,300 Kingsway Financial Services shares at $9.75 each, investing $12,675 and increasing his direct ownership to 373,300 shares. He has made several additional purchases recently.
• KWY traded at $10.10, with a market capitalization of approximately $292 million, while its shares remained below the 200-day moving average and well below the 52-week high of $16.51.
• The company reported a quarterly loss of $0.03 per share and negative profitability metrics. Despite institutional investors owning 72.38% of the stock, analyst sentiment remained “Sell.”

Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) Director Joshua Horowitz purchased 1,300 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average price of $9.75 per share, with a total value of $12,675.00. Following the purchase, the director directly owned 373,300 shares of the company's stock, valued at approximately $3,639,675. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Joshua Horowitz also recently made the following trade(s):

• On Thursday, August 20th, Joshua Horowitz acquired 769 shares of Kingsway Financial Services stock. The shares were acquired at an average cost of $9.89 per share, for a total transaction of $7,605.41.
• On Wednesday, August 19th, Joshua Horowitz acquired 7,034 shares of Kingsway Financial Services stock. The stock was acquired at an average price of $9.84 per share, with a total value of $69,214.56.
• On Friday, May 29th, Joshua Horowitz acquired 3,800 shares of Kingsway Financial Services stock. The stock was acquired at an average price of $9.91 per share, with a total value of $37,658.00.
• On Thursday, May 28th, Joshua Horowitz bought 700 shares of Kingsway Financial Services stock. The stock was acquired at an average cost of $9.95 per share, with a total value of $6,965.00.

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Kingsway Financial Services Stock Performance

KWY traded up $0.21 during midday trading on Thursday, hitting $10.10. 120,633 shares of the company traded hands, compared to its average volume of 77,508. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 4.39. The firm has a market capitalization of $292.19 million, a PE ratio of -33.67 and a beta of 0.24. The company's 50-day moving average is $9.84 and its 200 day moving average is $11.20. Kingsway Financial Services Inc has a 52 week low of $8.41 and a 52 week high of $16.51.

Kingsway Financial Services (NYSE:KWY - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter. Kingsway Financial Services had a negative return on equity of 61.62% and a negative net margin of 6.69%.The company had revenue of $39.44 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KWY. Capricorn Fund Managers Ltd purchased a new stake in shares of Kingsway Financial Services during the 1st quarter valued at about $18,616,000. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Kingsway Financial Services by 43.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 1,884,529 shares of the company's stock worth $25,347,000 after buying an additional 573,993 shares during the last quarter. Waverly Advisors LLC bought a new stake in Kingsway Financial Services during the first quarter valued at approximately $1,304,000. Vanguard Group Inc. grew its position in Kingsway Financial Services by 12.5% during the third quarter. Vanguard Group Inc. now owns 948,838 shares of the company's stock valued at $13,872,000 after buying an additional 105,080 shares during the period. Finally, Geode Capital Management LLC grew its position in Kingsway Financial Services by 20.2% during the second quarter. Geode Capital Management LLC now owns 426,836 shares of the company's stock valued at $5,780,000 after buying an additional 71,720 shares during the period. Institutional investors own 72.38% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Kingsway Financial Services from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Kingsway Financial Services has a consensus rating of "Sell".

Kingsway Financial Services Company Profile

Kingsway Financial Services Inc is a holding company that operates through a group of subsidiaries focused on extended warranty and specialty insurance-related services. The company's businesses primarily provide administration, underwriting, and related support services for protection products offered through automotive, consumer, and other markets.

Kingsway has historically operated in the insurance and service contract space, with activities centered on helping businesses and consumers manage risk and protection coverage needs.

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