Kingstone Companies, Inc. (NASDAQ:KINS) Short Interest Down 9.1% in October

Kingstone Companies, Inc. (NASDAQ:KINS) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 127,700 shares, a drop of 9.1% from the October 15th total of 140,500 shares. Based on an average daily trading volume, of 192,300 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.5% of the shares of the company are sold short.

Kingstone Companies Trading Up 17.3 %

Shares of NASDAQ KINS opened at $12.85 on Tuesday. Kingstone Companies has a fifty-two week low of $1.95 and a fifty-two week high of $13.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $142.07 million, a P/E ratio of 9.88 and a beta of 0.55. The company’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $7.40.

Kingstone Companies (NASDAQ:KINS) last issued its quarterly earnings data on Tuesday, November 12th. The insurance provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. The company had revenue of $40.77 million during the quarter, compared to the consensus estimate of $41.80 million. Kingstone Companies had a net margin of 10.60% and a return on equity of 37.53%. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. On average, analysts predict that Kingstone Companies will post 1.36 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Kingstone Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Institutional Trading of Kingstone Companies

A number of large investors have recently added to or reduced their stakes in KINS. Barclays PLC acquired a new stake in shares of Kingstone Companies during the 3rd quarter worth about $49,000. State Street Corp increased its position in Kingstone Companies by 22.7% during the third quarter. State Street Corp now owns 30,229 shares of the insurance provider’s stock worth $277,000 after acquiring an additional 5,600 shares during the period. Dimensional Fund Advisors LP increased its holdings in Kingstone Companies by 7.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 109,172 shares of the insurance provider’s stock valued at $546,000 after buying an additional 7,320 shares during the period. Geode Capital Management LLC increased its holdings in Kingstone Companies by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 95,950 shares of the insurance provider’s stock valued at $878,000 after buying an additional 12,134 shares during the period. Finally, Jane Street Group LLC bought a new position in Kingstone Companies in the 3rd quarter valued at about $170,000. Institutional investors and hedge funds own 14.91% of the company’s stock.

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.