114,832 Shares in Kingsway Financial Services Inc $KWY Acquired by Citadel Advisors LLC

Citadel Advisors LLC bought a new stake in Kingsway Financial Services Inc (NYSE:KWY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 114,832 shares of the company’s stock, valued at approximately $1,197,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in Kingsway Financial Services by 66.2% during the 2nd quarter. Legal & General Group Plc now owns 2,009 shares of the company’s stock worth $27,000 after acquiring an additional 800 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 valued at $52,000 after purchasing an additional 2,622 shares during the last quarter. BNP Paribas Financial Markets raised 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 valued at $61,000 after purchasing an additional 2,442 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of 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 in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 72.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Joseph Stilwell sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 267,018 shares in the company, valued at approximately $2,670,180. The trade was a 27.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joshua Horowitz acquired 7,034 shares of Kingsway Financial Services stock in a transaction dated Wednesday, August 19th. The shares were bought at an average price of $9.84 per share, with a total value of $69,214.56. Following the transaction, the director directly owned 380,334 shares in the company, valued at approximately $3,742,486.56. The trade was a 1.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 10,353 shares of company stock worth $101,997. 41.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kingsway Financial Services in a research note on Wednesday, August 26th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Kingsway Financial Services Price Performance

Shares of NYSE KWY opened at $9.67 on Friday. The company has a debt-to-equity ratio of 4.39, a quick ratio of 1.36 and a current ratio of 1.36. Kingsway Financial Services Inc has a fifty-two week low of $8.41 and a fifty-two week high of $16.51. The firm has a market capitalization of $279.75 million, a PE ratio of -32.23 and a beta of 0.25. The stock’s 50-day simple moving average is $9.76 and its 200-day simple moving average is $10.89.

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

About Kingsway Financial Services

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.