Kingsway Financial Services (NYSE:KWY) Stock Breaks Above 50 Day Moving Average – What’s Next?

Kingsway Financial Services Inc (NYSE:KWY) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $9.73 and traded as high as $9.94. Kingsway Financial Services shares last traded at $9.92, with a volume of 64,539 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Kingsway Financial Services from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

Kingsway Financial Services Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 4.39. The company has a market cap of $287.00 million, a PE ratio of -33.07 and a beta of 0.25. The firm has a 50 day moving average of $9.73 and a two-hundred day moving average of $10.66.

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

Insider Buying and Selling at Kingsway Financial Services

In other news, Director Joshua Horowitz purchased 7,034 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average price of $9.84 per share, for a total transaction of $69,214.56. Following the purchase, the director directly owned 380,334 shares in the company, valued at approximately $3,742,486.56. This trade represents a 1.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Stilwell sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $10.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders have bought 14,051 shares of company stock valued at $136,106 over the last 90 days. Corporate insiders own 41.41% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KWY. State Street Corp bought a new position in shares of Kingsway Financial Services in the second quarter worth approximately $3,105,000. Waverly Advisors LLC bought a new stake in shares of Kingsway Financial Services during the first quarter valued at approximately $1,304,000. Citadel Advisors LLC bought a new stake in shares of Kingsway Financial Services during the second quarter valued at approximately $1,197,000. Squarepoint Ops LLC purchased a new position in Kingsway Financial Services in the 2nd quarter worth approximately $791,000. Finally, Renaissance Technologies LLC raised its holdings in Kingsway Financial Services by 22.3% in the 1st quarter. Renaissance Technologies LLC now owns 319,670 shares of the company’s stock worth $3,334,000 after acquiring an additional 58,290 shares during the last quarter. 72.38% of the stock is owned by hedge funds and other institutional investors.

Kingsway Financial Services Company Profile

Kingsway Financial Services Inc (NYSE:KWY) is a Canadian-based holding company that owns and operates businesses in the specialty insurance and insurance-services sectors. Its portfolio includes companies providing specialty insurance products, extended warranty programs, and related administrative and claims services.

Historically, Kingsway operated primarily as a specialty insurance provider, including nonstandard automobile insurance businesses in the United States and Canada. The company has since focused on managing and developing a diversified group of insurance and non-insurance subsidiaries, with operations serving customers principally in North America.

Kingsway was founded in 1989 and is headquartered in Toronto, Ontario.