Kingstone Companies Inc (NASDAQ:KINS) Sees Large Decline in Short Interest

Kingstone Companies Inc (NASDAQ:KINS) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 179,100 shares, a decline of 5.0% from the September 30th total of 188,600 shares. Based on an average trading volume of 29,600 shares, the days-to-cover ratio is presently 6.1 days. Currently, 2.0% of the shares of the company are sold short.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Hancock Whitney Corp grew its stake 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 buying an additional 2,040 shares in the last quarter. Asset Dedication LLC bought a new stake in shares of Kingstone Companies in the 2nd quarter valued at approximately $26,000. Macquarie Group Ltd. bought a new stake in shares of Kingstone Companies in the 2nd quarter valued at approximately $27,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Kingstone Companies by 26.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,549 shares of the insurance provider’s stock valued at $212,000 after buying an additional 5,091 shares in the last quarter. Finally, Monarch Partners Asset Management LLC grew its stake in shares of Kingstone Companies by 14.2% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 54,372 shares of the insurance provider’s stock valued at $470,000 after buying an additional 6,770 shares in the last quarter. Institutional investors own 43.52% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Kingstone Companies from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 13th. ValuEngine upgraded shares of Kingstone Companies from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd.

Shares of Kingstone Companies stock opened at $7.52 on Thursday. The company’s 50-day moving average price is $8.08 and its two-hundred day moving average price is $8.48. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.34. The stock has a market cap of $82.19 million, a PE ratio of 16.00 and a beta of 0.60. Kingstone Companies has a 52 week low of $7.50 and a 52 week high of $18.74.

Kingstone Companies (NASDAQ:KINS) last posted its quarterly earnings data on Tuesday, November 12th. The insurance provider reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.45). The company had revenue of $38.60 million for the quarter, compared to analyst estimates of $37.00 million. Kingstone Companies had a negative return on equity of 10.93% and a negative net margin of 6.03%. On average, equities analysts predict that Kingstone Companies will post -0.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.063 per share. The ex-dividend date is Wednesday, November 27th. This represents a $0.25 annualized dividend and a yield of 3.35%. Kingstone Companies’s payout ratio is presently 53.19%.

About Kingstone Companies

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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