Kingsway Financial Services Inc (NYSE:KFS) (TSE:KFS) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 5,600 shares, a drop of 65.0% from the December 31st total of 16,000 shares. Based on an average daily volume of 31,200 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are sold short.
A number of institutional investors have recently added to or reduced their stakes in KFS. Renaissance Technologies LLC increased its stake in shares of Kingsway Financial Services by 6.5% in the 2nd quarter. Renaissance Technologies LLC now owns 267,838 shares of the insurance provider’s stock valued at $656,000 after acquiring an additional 16,309 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Kingsway Financial Services in the 2nd quarter valued at $41,000. Finally, Millennium Management LLC increased its stake in shares of Kingsway Financial Services by 189.5% in the 3rd quarter. Millennium Management LLC now owns 102,957 shares of the insurance provider’s stock valued at $227,000 after acquiring an additional 217,957 shares in the last quarter. Hedge funds and other institutional investors own 29.52% of the company’s stock.
Kingsway Financial Services stock opened at $1.74 on Monday. Kingsway Financial Services has a 52-week low of $1.63 and a 52-week high of $3.21. The firm has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $2.32. The firm has a market cap of $37.91 million, a price-to-earnings ratio of -1.43 and a beta of -0.30.
Kingsway Financial Services Company Profile
Kingsway Financial Services Inc, through its subsidiaries, provides property and casualty insurance products in the United States. The company operates through three segments: Insurance Underwriting, Extended Warranty, and Leased Real Estate. The Insurance Underwriting segment offers various automobile insurance products, including liability insurance that covers claims against its insured's responsible for automobile accidents; accident benefit policies or personal injury protection policies that provide coverage for loss of income, medical, and rehabilitation expenses for insured persons who are injured in an automobile accident; and physical damage policies, which cover damages to an insured automobile arising from a collision with another object, as well as from other risks, such as fire or theft.
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