Kingstone Companies, Inc. (NASDAQ:KINS) Short Interest Up 153.2% in December

Kingstone Companies, Inc. (NASDAQ:KINS) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 23,800 shares, an increase of 153.2% from the December 15th total of 9,400 shares. Based on an average trading volume of 24,100 shares, the short-interest ratio is presently 1.0 days. Currently, 0.3% of the company’s shares are short sold.

Hedge funds have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC purchased a new position in Kingstone Companies during the second quarter valued at approximately $33,000. State Street Corp purchased a new position in Kingstone Companies during the second quarter valued at approximately $224,000. Advisor Group Holdings Inc. increased its holdings in Kingstone Companies by 3.4% during the second quarter. Advisor Group Holdings Inc. now owns 49,259 shares of the insurance provider’s stock valued at $384,000 after buying an additional 1,606 shares during the period. Eidelman Virant Capital increased its holdings in Kingstone Companies by 5.0% during the third quarter. Eidelman Virant Capital now owns 80,916 shares of the insurance provider’s stock valued at $537,000 after buying an additional 3,870 shares during the period. Finally, BlackRock Inc. increased its holdings in Kingstone Companies by 16.5% during the third quarter. BlackRock Inc. now owns 145,594 shares of the insurance provider’s stock valued at $966,000 after buying an additional 20,614 shares during the period. 37.89% of the stock is currently owned by institutional investors.

Shares of NASDAQ KINS opened at $5.44 on Friday. The firm has a 50-day simple moving average of $5.04 and a two-hundred day simple moving average of $6.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.43 and a quick ratio of 0.43. Kingstone Companies has a 1 year low of $4.61 and a 1 year high of $8.98. The company has a market cap of $57.03 million, a P/E ratio of -8.50 and a beta of 0.87.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings results on Thursday, November 11th. The insurance provider reported ($1.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.47) by ($0.55). Kingstone Companies had a negative net margin of 4.28% and a negative return on equity of 15.39%. The company had revenue of $38.96 million for the quarter, compared to the consensus estimate of $39.61 million. During the same period in the prior year, the firm posted ($0.27) EPS. As a group, equities research analysts expect that Kingstone Companies will post -1.35 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Monday, November 29th. Kingstone Companies’s dividend payout ratio is presently -25.00%.

A number of research analysts recently commented on the stock. TheStreet downgraded shares of Kingstone Companies from a “c” rating to a “d+” rating in a report on Friday, November 12th. Boenning Scattergood downgraded shares of Kingstone Companies from an “outperform” rating to a “neutral” rating in a research note on Friday, November 12th. Finally, Zacks Investment Research raised shares of Kingstone Companies from a “sell” rating to a “hold” rating in a research note on Thursday, October 14th.

About Kingstone Companies

Kingstone Cos., Inc operates as a holding company, which engages in the provision of property and casualty insurance policies to individuals and small businesses through its subsidiary. Its writing business are carried through independent retail and wholesale agents and brokers. The company was founded in 1886 and is headquartered in Kingston, NY.

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