Macquarie Group Ltd. purchased a new stake in shares of Kingstone Companies Inc (NASDAQ:KINS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,067 shares of the insurance provider’s stock, valued at approximately $27,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Foundry Partners LLC raised its position in shares of Kingstone Companies by 25.5% in the second quarter. Foundry Partners LLC now owns 437,877 shares of the insurance provider’s stock valued at $3,788,000 after purchasing an additional 89,089 shares during the period. Asset Dedication LLC bought a new stake in shares of Kingstone Companies in the second quarter valued at approximately $26,000. Salzhauer Michael raised its position in shares of Kingstone Companies by 42.8% in the second quarter. Salzhauer Michael now owns 83,434 shares of the insurance provider’s stock valued at $722,000 after purchasing an additional 25,000 shares during the period. Monarch Partners Asset Management LLC increased its holdings in Kingstone Companies by 14.2% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 54,372 shares of the insurance provider’s stock worth $470,000 after acquiring an additional 6,770 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Kingstone Companies by 35.0% during the 2nd quarter. Renaissance Technologies LLC now owns 385,900 shares of the insurance provider’s stock worth $3,338,000 after acquiring an additional 100,100 shares during the period. 45.94% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on KINS. ValuEngine raised shares of Kingstone Companies from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of Kingstone Companies from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd.
In other news, insider Barry Goldstein acquired 5,950 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was bought at an average cost of $8.16 per share, with a total value of $48,552.00. Following the completion of the purchase, the insider now directly owns 613,876 shares of the company’s stock, valued at $5,009,228.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 12,950 shares of company stock worth $105,122 in the last 90 days. 8.90% of the stock is currently owned by company insiders.
KINS traded down $0.04 during trading on Friday, hitting $8.79. 35,700 shares of the stock traded hands, compared to its average volume of 59,397. Kingstone Companies Inc has a 12-month low of $7.50 and a 12-month high of $18.74. The firm has a market capitalization of $94.61 million, a P/E ratio of 18.70 and a beta of 0.64. The firm has a 50-day moving average of $8.44 and a 200 day moving average of $8.91. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.49 and a quick ratio of 0.49.
Kingstone Companies (NASDAQ:KINS) last released its earnings results on Thursday, August 8th. The insurance provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.25). The firm had revenue of $34.61 million for the quarter, compared to the consensus estimate of $35.40 million. Kingstone Companies had a negative return on equity of 3.77% and a negative net margin of 2.03%. As a group, equities analysts predict that Kingstone Companies Inc will post -0.32 EPS for the current fiscal year.
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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