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

Kingstone Companies, Inc. (NASDAQ:KINS - Get Free Report) saw a large growth in short interest in January. As of January 15th, there was short interest totalling 773,400 shares, a growth of 19.4% from the December 31st total of 647,800 shares. Based on an average daily volume of 300,700 shares, the days-to-cover ratio is currently 2.6 days. Approximately 8.3% of the company's stock are short sold.

Kingstone Companies Price Performance

Kingstone Companies stock traded up $0.59 during midday trading on Wednesday, hitting $18.47. 371,060 shares of the company's stock were exchanged, compared to its average volume of 277,829. The company has a market cap of $228.10 million, a P/E ratio of 14.21 and a beta of 0.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a 50-day moving average price of $15.73 and a two-hundred day moving average price of $11.76. Kingstone Companies has a 52-week low of $2.97 and a 52-week high of $18.53.

Kingstone Companies (NASDAQ:KINS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $40.77 million for the quarter, compared to analysts' expectations of $41.80 million. Kingstone Companies had a net margin of 10.60% and a return on equity of 32.55%. During the same period in the prior year, the business earned ($0.27) earnings per share. On average, equities research analysts forecast that Kingstone Companies will post 1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Kingstone Companies from a "buy" rating to a "hold" rating in a report on Wednesday, December 11th.

Insider Transactions at Kingstone Companies

In other Kingstone Companies news, Director Carla D'andre acquired 4,000 shares of Kingstone Companies stock in a transaction that occurred on Friday, November 15th. The stock was acquired at an average cost of $10.98 per share, for a total transaction of $43,920.00. Following the purchase, the director now owns 4,000 shares of the company's stock, valued at approximately $43,920. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William L. Yankus sold 10,253 shares of the business's stock in a transaction 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 in the company, valued at $1,485,874.12. The trade was a 10.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 12.20% of the company's stock.

Hedge Funds Weigh In On Kingstone Companies

Institutional investors have recently modified their holdings of the company. Angel Oak Capital Advisors LLC purchased a new stake in Kingstone Companies in the fourth quarter worth approximately $3,704,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Kingstone Companies during the third quarter valued at about $1,658,000. Evernest Financial Advisors LLC purchased a new position in shares of Kingstone Companies in the third quarter worth about $1,184,000. Wolverine Trading LLC bought a new stake in shares of Kingstone Companies in the 3rd quarter valued at about $304,000. Finally, XTX Topco Ltd purchased a new stake in Kingstone Companies during the 3rd quarter valued at about $290,000. 14.91% of the stock is currently owned by institutional investors.

About Kingstone Companies

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.