Kingsway Financial Services (NYSE:KWY) Director Joseph Stilwell Sells 100,000 Shares

Key Points

• Director Joseph Stilwell sold 100,000 Kingsway shares at an average price of $10, generating $1 million. The sale reduced his direct holdings by 27.25% to 267,018 shares.
• KWY shares fell 1.5% to $9.79, while the company reported a quarterly loss of $0.03 per share on $39.44 million in revenue. Kingsway also posted negative net margin and return on equity.
• Institutional investors own 72.38% of the stock, with several firms increasing their positions. However, the stock retains an overall “Sell” rating from the one tracked analyst.

Kingsway Financial Services Inc (NYSE:KWY - Get Free Report) Director Joseph Stilwell sold 100,000 shares of the firm's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $10.00, for a total transaction of $1,000,000.00. Following the transaction, the director directly owned 267,018 shares of the company's stock, valued at $2,670,180. The trade was a 27.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Kingsway Financial Services Trading Down 1.5%

KWY stock traded down $0.15 during trading on Monday, hitting $9.79. The company had a trading volume of 101,204 shares, compared to its average volume of 77,642. The stock has a market cap of $283.22 million, a PE ratio of -32.63 and a beta of 0.24. The business has a 50-day moving average of $9.87 and a 200-day moving average of $11.26. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 4.39. Kingsway Financial Services Inc has a one year low of $8.41 and a one year high of $16.51.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KWY. Legal & General Group Plc grew its stake in Kingsway Financial Services by 66.2% in the second quarter. Legal & General Group Plc now owns 2,009 shares of the company's stock valued at $27,000 after acquiring an additional 800 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Kingsway Financial Services by 220.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,809 shares of the company's stock worth $52,000 after purchasing an additional 2,622 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Kingsway Financial Services by 143.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,141 shares of the company's stock worth $61,000 after purchasing an additional 2,442 shares in the last quarter. Osaic Holdings Inc. grew its position in Kingsway Financial Services by 17.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,925 shares of the company's stock valued at $94,000 after purchasing an additional 1,015 shares during the period. Finally, Bank of America Corp DE grew its position in Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the company's stock valued at $103,000 after purchasing an additional 3,300 shares during the period. Institutional investors own 72.38% of the company's stock.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average 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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