Kingstone Companies Inc (NASDAQ:KINS) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 206,300 shares, an increase of 98.9% from the July 31st total of 103,700 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average trading volume of 84,900 shares, the short-interest ratio is currently 2.4 days.
In other Kingstone Companies news, insider Barry Goldstein bought 5,950 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were bought at an average cost of $8.16 per share, for a total transaction of $48,552.00. Following the acquisition, the insider now directly owns 613,876 shares in the company, valued at $5,009,228.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have acquired 14,950 shares of company stock worth $122,122. 8.90% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in KINS. Asset Dedication LLC purchased a new position in shares of Kingstone Companies in the 2nd quarter valued at approximately $26,000. BNP Paribas Arbitrage SA raised its position in shares of Kingstone Companies by 1,029.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,966 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 1,792 shares during the last quarter. Hancock Whitney Corp raised its position in shares of Kingstone Companies by 18.4% in the 2nd quarter. Hancock Whitney Corp now owns 13,128 shares of the insurance provider’s stock valued at $114,000 after purchasing an additional 2,040 shares during the last quarter. Integre Asset Management LLC raised its position in shares of Kingstone Companies by 65.7% in the 2nd quarter. Integre Asset Management LLC now owns 17,807 shares of the insurance provider’s stock valued at $154,000 after purchasing an additional 7,060 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of Kingstone Companies in the 1st quarter valued at approximately $162,000. 46.10% of the stock is owned by hedge funds and other institutional investors.
Kingstone Companies (NASDAQ:KINS) last released its quarterly earnings results on Thursday, August 8th. The insurance provider reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.25). The firm had revenue of $34.61 million for the quarter, compared to analysts’ expectations of $35.40 million. Kingstone Companies had a negative net margin of 2.03% and a negative return on equity of 3.77%. As a group, equities analysts forecast that Kingstone Companies will post -0.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a $0.063 dividend. This represents a $0.25 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, August 29th. Kingstone Companies’s payout ratio is currently 53.19%.
KINS has been the subject of several analyst reports. Boenning Scattergood set a $13.00 price target on shares of Kingstone Companies and gave the company a “buy” rating in a research report on Monday, May 20th. ValuEngine raised shares of Kingstone Companies from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Kingstone Companies from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st.
Kingstone Companies Company Profile
Kingstone Companies, Inc, through its subsidiary, Kingstone Insurance Company, underwrites property and casualty insurance products to small businesses and individuals in New York. The company offers personal lines insurance products, including homeowners and dwelling fire multi-peril, cooperative/condominiums, renters, and personal umbrella policies.
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