Kingsway Financial Services Inc. (NYSE:KFS) Sees Significant Growth in Short Interest

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 425,000 shares, a growth of 6.8% from the December 15th total of 398,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 43,900 shares, the short-interest ratio is presently 9.7 days.

Insider Buying and Selling

In other news, Director Joseph Stilwell sold 365,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $8.43, for a total transaction of $3,076,950.00. Following the transaction, the director now owns 593,743 shares in the company, valued at approximately $5,005,253.49. This trade represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders purchased a total of 1,143 shares of company stock worth $10,011 over the last three months. 54.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its position in shares of Kingsway Financial Services by 36.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,526 shares of the insurance provider’s stock valued at $54,000 after acquiring an additional 1,742 shares during the period. Bard Associates Inc. grew its holdings in Kingsway Financial Services by 0.6% in the third quarter. Bard Associates Inc. now owns 288,113 shares of the insurance provider’s stock valued at $2,386,000 after purchasing an additional 1,848 shares during the period. Rhumbline Advisers increased its position in shares of Kingsway Financial Services by 25.8% in the second quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock valued at $102,000 after buying an additional 2,534 shares in the last quarter. Annandale Capital LLC raised its stake in shares of Kingsway Financial Services by 2.6% during the 2nd quarter. Annandale Capital LLC now owns 128,200 shares of the insurance provider’s stock worth $1,056,000 after buying an additional 3,200 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Kingsway Financial Services by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 37,793 shares of the insurance provider’s stock valued at $311,000 after buying an additional 6,778 shares in the last quarter. 72.38% of the stock is currently owned by institutional investors and hedge funds.

Kingsway Financial Services Trading Down 1.0 %

Shares of KFS stock traded down $0.09 during mid-day trading on Friday, hitting $8.13. 19,695 shares of the stock traded hands, compared to its average volume of 53,247. The stock’s fifty day moving average is $8.52 and its two-hundred day moving average is $8.41. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.41 and a current ratio of 0.41. Kingsway Financial Services has a 52-week low of $7.60 and a 52-week high of $9.58.

Kingsway Financial Services Company Profile

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.