Kingstone Companies (NASDAQ:KINS) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Kingstone Companies (NASDAQ:KINS) from a buy rating to a hold rating in a report issued on Wednesday.

Kingstone Companies Stock Performance

KINS opened at $15.96 on Wednesday. The firm’s fifty day simple moving average is $12.34 and its two-hundred day simple moving average is $8.87. Kingstone Companies has a 52-week low of $1.95 and a 52-week high of $17.77. The company has a market cap of $197.09 million, a price-to-earnings ratio of 12.28 and a beta of 0.71. 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 issued its quarterly earnings results on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Kingstone Companies had a net margin of 10.60% and a return on equity of 32.55%. The firm had revenue of $40.77 million for the quarter, compared to analyst estimates of $41.80 million. During the same period last year, the company posted ($0.27) EPS. Equities analysts anticipate that Kingstone Companies will post 1.4 earnings per share for the current fiscal year.

Insider Activity at Kingstone Companies

In other Kingstone Companies news, Director Carla D’andre bought 4,000 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $10.98 per share, with a total value of $43,920.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at $43,920. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kingstone Companies

A number of hedge funds have recently modified their holdings of the business. Barclays PLC purchased a new stake in Kingstone Companies during the 3rd quarter valued at about $49,000. Jane Street Group LLC acquired a new position in shares of Kingstone Companies during the 3rd quarter worth approximately $170,000. State Street Corp grew its position in shares of Kingstone Companies by 22.7% in the third quarter. State Street Corp now owns 30,229 shares of the insurance provider’s stock valued at $277,000 after purchasing an additional 5,600 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Kingstone Companies in the third quarter valued at approximately $290,000. Finally, Wolverine Trading LLC acquired a new stake in shares of Kingstone Companies in the third quarter valued at approximately $304,000. 14.91% of the stock is currently owned by institutional investors and hedge funds.

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.