John Taylor Maloney Fitzgerald, the President and CEO of Kingsway Financial Services Inc. (NYSE:KFS), has recently purchased shares of the company's common stock, according to a new regulatory filing. The transaction, which took place on May 1, 2024, involved the acquisition of 279 shares at a price of $8.97 per share, totaling $2,502.
This latest purchase by Fitzgerald is part of the company's Employee Share Purchase Plan (ESPP), which allows eligible employees to contribute up to 5% of their adjusted salary to buy company stock. The plan includes a generous matching contribution from the company, equal to 100% of the employee's contribution. The shares are then bought on the open market by the ESPP administrator through a registered stockbroker.
Following this transaction, Fitzgerald's direct ownership in Kingsway Financial Services Inc. has increased to 1,565,689 shares. This amount includes 500,000 shares of restricted stock that were previously granted to him on March 31, 2021.
Investors often monitor insider transactions such as these for insights into executives' confidence in their company's future performance. The details of Fitzgerald's stock purchase can be found in the company's latest Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights
Amidst the latest insider transaction at Kingsway Financial Services Inc. (NYSE:KFS), where President and CEO John Taylor Maloney Fitzgerald increased his stake in the company, investors may find additional context through InvestingPro's real-time metrics and insights. The company, with a market capitalization of $245.41 million, is trading at a high Price / Book multiple of 8.86, according to data from the last twelve months as of Q4 2023. This indicates that the stock is trading at a premium compared to the company's book value, a point of interest for value-focused investors.
Despite the high Price / Book value, the company has shown a solid revenue growth of 13.31% over the last twelve months, demonstrating an upward trajectory in its financial performance. The positive growth is further supported by a healthy gross profit margin of 69.57%, suggesting that Kingsway Financial Services has been effective in controlling its cost of goods sold and maintaining profitability.
InvestingPro Tips highlight that Kingsway Financial Services Inc. has been profitable over the last twelve months and has experienced a strong return over the last five years. These insights could be particularly relevant for long-term investors assessing the company's track record of performance. It's also noteworthy that Kingsway does not pay a dividend to shareholders, which could be a critical factor for income-focused investors when making portfolio decisions.
For those seeking a deeper analysis, InvestingPro offers additional tips on Kingsway Financial Services Inc., which can be accessed through their platform. Interested readers can utilize the coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, there are five more InvestingPro Tips available for Kingsway Financial Services, providing a comprehensive view of the company's financial health and market position.
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