Kingstone Companies, Inc. (NASDAQ:KINS) Sees Large Decrease in Short Interest

Kingstone Companies, Inc. (NASDAQ:KINS - Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 260,000 shares, a drop of 62.9% from the January 15th total of 700,400 shares. Based on an average daily volume of 338,200 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.8% of the company's stock are short sold.

Insider Buying and Selling

In related news, Director William L. Yankus sold 10,253 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 91,834 shares in the company, valued at approximately $1,485,874.12. This trade represents a 10.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kingstone Companies

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Kingstone Companies by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 515,989 shares of the insurance provider's stock valued at $7,838,000 after purchasing an additional 69,400 shares during the period. Marshall Wace LLP increased its position in Kingstone Companies by 223.5% during the fourth quarter. Marshall Wace LLP now owns 282,181 shares of the insurance provider's stock worth $4,286,000 after acquiring an additional 194,952 shares during the period. Angel Oak Capital Advisors LLC bought a new position in Kingstone Companies during the fourth quarter worth $3,704,000. Philadelphia Financial Management of San Francisco LLC bought a new position in Kingstone Companies during the third quarter worth $1,658,000. Finally, Raymond James Financial Inc. bought a new stake in Kingstone Companies in the 4th quarter valued at $2,371,000. Institutional investors own 14.91% of the company's stock.

Kingstone Companies Stock Performance

Shares of NASDAQ:KINS traded up $0.08 during trading on Friday, reaching $17.92. The stock had a trading volume of 228,882 shares, compared to its average volume of 255,681. Kingstone Companies has a 52 week low of $2.97 and a 52 week high of $18.93. The firm has a market capitalization of $221.29 million, a price-to-earnings ratio of 13.78 and a beta of 0.74. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $15.91 and a two-hundred day simple moving average of $12.35.

Analysts Set New Price Targets

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

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.