Short Interest in Kingsway Financial Services Inc (NYSE:KFS) Drops By 65.0%

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.

Separately, ValuEngine lowered shares of Kingsway Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, December 26th.

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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