Short Interest in Kingstone Companies, Inc. (NASDAQ:KINS) Expands By 19.4%

Kingstone Companies, Inc. (NASDAQ:KINS) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 773,400 shares, an increase of 19.4% from the December 15th total of 647,800 shares. Based on an average daily volume of 300,700 shares, the short-interest ratio is presently 2.6 days. Approximately 8.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Kingstone Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, December 11th.

Kingstone Companies Stock Up 0.3 %

KINS traded up $0.05 during trading hours on Friday, hitting $15.37. 331,100 shares of the company’s stock were exchanged, compared to its average volume of 304,594. The stock has a market cap of $189.82 million, a price-to-earnings ratio of 11.82 and a beta of 0.74. Kingstone Companies has a 1-year low of $2.40 and a 1-year high of $18.08. The stock’s 50-day moving average is $14.99 and its two-hundred day moving average is $10.73. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.29.

Kingstone Companies (NASDAQ:KINS) last announced its quarterly earnings data on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. Kingstone Companies had a return on equity of 32.55% and a net margin of 10.60%. The company had revenue of $40.77 million during the quarter, compared to analysts’ expectations of $41.80 million. During the same quarter last year, the company earned ($0.27) EPS. Sell-side analysts predict that Kingstone Companies will post 1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Carla D’andre acquired 4,000 shares of the stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $10.98 per share, with a total value of $43,920.00. Following the completion of the transaction, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $43,920. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William L. Yankus sold 10,253 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $16.18, for a total transaction of $165,893.54. Following the completion of the transaction, the director now directly owns 91,834 shares of the company’s stock, valued at approximately $1,485,874.12. The trade was a 10.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.20% of the company’s stock.

Institutional Investors Weigh In On Kingstone Companies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC acquired a new stake in Kingstone Companies during the 3rd quarter valued at $49,000. JPMorgan Chase & Co. raised its holdings in 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. Jane Street Group LLC acquired a new stake in Kingstone Companies during the third quarter worth approximately $170,000. State Street Corp lifted its position in Kingstone Companies by 22.7% during the third quarter. State Street Corp now owns 30,229 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 5,600 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Kingstone Companies during the third quarter worth approximately $290,000. Institutional investors own 14.91% of the company’s stock.

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.