Kingsway Financial Services (NYSE:KFS) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.21 and traded as high as $8.47. Kingsway Financial Services shares last traded at $8.42, with a volume of 89,457 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Kingsway Financial Services from a “hold” rating to a “sell” rating in a research report on Friday, June 14th.

Kingsway Financial Services Trading Up 1.7 %

The company has a debt-to-equity ratio of 0.80, a current ratio of 0.55 and a quick ratio of 0.55. The business’s fifty day simple moving average is $8.03 and its 200 day simple moving average is $8.21.

Kingsway Financial Services (NYSE:KFS) (TSE:KFS) last released its quarterly earnings results on Tuesday, August 6th. The insurance provider reported ($0.09) EPS for the quarter. The business had revenue of $26.45 million during the quarter. Kingsway Financial Services had a negative return on equity of 24.54% and a negative net margin of 7.45%.

Institutional Trading of Kingsway Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Kingsway Financial Services by 193.0% in the 1st quarter. BNP Paribas Financial Markets now owns 9,679 shares of the insurance provider’s stock valued at $81,000 after purchasing an additional 6,376 shares in the last quarter. Rhumbline Advisers increased its holdings in Kingsway Financial Services by 25.8% in the second quarter. Rhumbline Advisers now owns 12,352 shares of the insurance provider’s stock valued at $102,000 after buying an additional 2,534 shares during the last quarter. DHK Financial Advisors Inc. acquired a new stake in Kingsway Financial Services during the second quarter valued at approximately $303,000. Bank of New York Mellon Corp lifted its stake in Kingsway Financial Services by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 37,793 shares of the insurance provider’s stock worth $311,000 after purchasing an additional 6,778 shares during the last quarter. Finally, Annandale Capital LLC boosted its holdings in shares of Kingsway Financial Services by 2.6% in the 2nd quarter. Annandale Capital LLC now owns 128,200 shares of the insurance provider’s stock valued at $1,056,000 after buying an additional 3,200 shares during the period. 72.38% of the stock is owned by institutional investors and hedge funds.

Kingsway Financial Services Company Profile

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.