Kingstone Companies, Inc. (NASDAQ:KINS) Sees Significant Growth in Short Interest

Kingstone Companies, Inc. (NASDAQ:KINS) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 332,200 shares, an increase of 27.8% from the January 31st total of 260,000 shares. Based on an average daily volume of 335,900 shares, the days-to-cover ratio is presently 1.0 days. Approximately 3.5% of the shares of the stock are short sold.

Insider Buying and Selling at Kingstone Companies

In other news, Director William L. Yankus sold 10,253 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $16.18, for a total transaction of $165,893.54. Following the sale, the director now directly owns 91,834 shares of the company’s stock, valued at $1,485,874.12. This represents a 10.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.20% of the company’s stock.

Institutional Trading of Kingstone Companies

Several institutional investors and hedge funds have recently made changes to their positions in KINS. Ritholtz Wealth Management boosted its position in shares of Kingstone Companies by 138.6% in the 4th quarter. Ritholtz Wealth Management now owns 39,663 shares of the insurance provider’s stock worth $602,000 after purchasing an additional 23,040 shares during the last quarter. Barclays PLC acquired a new position in shares of Kingstone Companies during the 3rd quarter worth about $49,000. State Street Corp increased its stake in shares of Kingstone Companies by 22.7% in the 3rd quarter. State Street Corp now owns 30,229 shares of the insurance provider’s stock valued at $277,000 after acquiring an additional 5,600 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Kingstone Companies by 53,684.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 10,219 shares of the insurance provider’s stock valued at $94,000 after acquiring an additional 10,200 shares during the period. Finally, XTX Topco Ltd bought a new position in Kingstone Companies during the 3rd quarter worth approximately $290,000. Institutional investors own 14.91% of the company’s stock.

Kingstone Companies Trading Down 3.6 %

Kingstone Companies stock traded down $0.57 during trading hours on Thursday, reaching $15.12. 202,748 shares of the company’s stock traded hands, compared to its average volume of 280,812. The firm’s 50 day moving average is $16.08 and its 200-day moving average is $13.10. Kingstone Companies has a fifty-two week low of $3.60 and a fifty-two week high of $19.18. The firm has a market capitalization of $186.72 million, a price-to-earnings ratio of 11.63 and a beta of 0.71. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.43 and a current ratio of 0.43.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Kingstone Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th.

Kingstone Companies Company Profile

Kingstone Companies, Inc, through its subsidiary, provides property and casualty insurance products to individuals in the United States. It offers personal line of insurance products, such as homeowners and dwelling fire, cooperative/condominiums, renters, and personal umbrella policies. The company also provides for-hire vehicle physical damage only policies for livery and car service vehicles and taxicabs; and canine legal liability policies.