Kingsway Financial Services Inc. (NYSE:KFS) Director Joseph Stilwell Sells 1,000,000 Shares

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) Director Joseph Stilwell sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $8.00, for a total value of $8,000,000.00. Following the completion of the sale, the director now directly owns 498,937 shares of the company’s stock, valued at $3,991,496. The trade was a 66.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Kingsway Financial Services Stock Performance

Shares of NYSE:KFS traded up $0.03 on Thursday, reaching $7.99. The company’s stock had a trading volume of 42,190 shares, compared to its average volume of 51,394. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.41 and a quick ratio of 0.41. Kingsway Financial Services Inc. has a 52-week low of $7.06 and a 52-week high of $9.58. The stock’s 50-day moving average is $7.84 and its two-hundred day moving average is $8.30.

Institutional Trading of Kingsway Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in shares of Kingsway Financial Services by 50.0% in the 4th quarter. Wells Fargo & Company MN now owns 5,937 shares of the insurance provider’s stock valued at $50,000 after purchasing an additional 1,980 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Kingsway Financial Services by 36.4% during the third quarter. BNP Paribas Financial Markets now owns 6,526 shares of the insurance provider’s stock worth $54,000 after purchasing an additional 1,742 shares during the period. Private Advisor Group LLC purchased a new position in Kingsway Financial Services in the 4th quarter valued at $102,000. Bank of America Corp DE increased its stake in Kingsway Financial Services by 36.5% in the 4th quarter. Bank of America Corp DE now owns 12,334 shares of the insurance provider’s stock valued at $103,000 after buying an additional 3,300 shares during the period. Finally, Townsquare Capital LLC purchased a new position in Kingsway Financial Services during the 4th quarter worth $108,000. 72.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Kingsway Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

About Kingsway Financial Services

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.