Notable Price Action: Could Kingstone Companies Inc See a Reversal After Breaking Its 52-Week High?

Notable Price Action: Could Kingstone Companies Inc See a Reversal After Breaking Its 52 Week High?

The stock of Kingstone Companies Inc (NASDAQ:KINS) hit a new 52-week high and has $21.41 target or 83.00% above today’s $11.70 share price. The 6 months bullish chart indicates low risk for the $95.64 million company. The 1-year high was reported on Nov, 11 by If the $21.41 price target is reached, the company will be worth $79.38M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 50,456 shares traded hands or 80.17% up from the average. Kingstone Companies Inc (NASDAQ:KINS) has risen 23.86% since April 11, 2016 and is uptrending. It has outperformed by 17.71% the S&P500.

According to Zacks Investment Research, “Kingstone Companies, Inc., formerly DCAP Group, Inc., is engaged in the ownership of an insurance company. The Company focuses on automobile, motorcycle and homeowners insurance and its customer base is primarily individuals rather than businesses. There are three Atlantic Insurance locations in eastern Pennsylvania. All of the Barry Scott, Atlantic Insurance and Accurate Agency locations are wholly owned by the Company.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.67, from 1.67 in 2016Q1. The ratio is negative, as 5 funds sold all Kingstone Companies Inc shares owned while 7 reduced positions. 3 funds bought stakes while 9 increased positions. They now own 1.73 million shares or 4.01% less from 1.81 million shares in 2016Q1.
Wasatch Advisors holds 0.03% or 210,000 shares in its portfolio. Vanguard Grp Inc has invested 0% of its portfolio in Kingstone Companies Inc (NASDAQ:KINS). Citigroup accumulated 10 shares or 0% of the stock. Bancorp Of America Corporation De accumulated 1 shares or 0% of the stock. Perritt Capital Inc holds 122,800 shares or 0.29% of its portfolio. Blackrock Fund Advsr has 21,884 shares for 0% of their US portfolio. Hancock Holding holds 12,639 shares or 0% of its portfolio. Tower Research Lc (Trc) holds 300 shares or 0% of its portfolio. Blackrock Institutional Trust Na holds 3,765 shares or 0% of its portfolio. Moreover, Blackrock Invest Mngmt Limited Co has 0% invested in Kingstone Companies Inc (NASDAQ:KINS) for 995 shares. Renaissance Techs Ltd Limited Liability Company last reported 45,500 shares in the company. Eidelman Virant Capital holds 1.62% of its portfolio in Kingstone Companies Inc (NASDAQ:KINS) for 297,862 shares. Globeflex Capital Ltd Partnership holds 0% of its portfolio in Kingstone Companies Inc (NASDAQ:KINS) for 104 shares. Spark Inv Mngmt Lc, a New York-based fund reported 17,900 shares. Cadence Capital Limited Liability Corp holds 0.05% of its portfolio in Kingstone Companies Inc (NASDAQ:KINS) for 70,760 shares.

Insider Transactions: Since May 17, 2016, the stock had 5 insider purchases, and 0 insider sales for $46,709 net activity. Shares for $4,555 were bought by GOLDSTEIN BARRY on Thursday, May 26. 1,000 Kingstone Companies Inc (NASDAQ:KINS) shares with value of $8,950 were bought by Tupper Floyd R.

More recent Kingstone Companies Inc (NASDAQ:KINS) news were published by: which released: “Kingstone Companies, Inc.: 139 Years Old And Still Growing Stronger” on December 14, 2015. Also published the news titled: “Kingstone Companies, Inc (KINS) Ex-Dividend Date Scheduled for August 29, 2016” on August 26, 2016.‘s news article titled: “Kingstone Companies’ (KINS) CEO Barry Goldstein on Q2 2016 Results – Earnings …” with publication date: August 12, 2016 was also an interesting one.

KINS Company Profile

Kingstone Companies, Inc. (Kingstone), incorporated on August 25, 1961, offers property and casualty insurance products to small businesses and individuals in New York State. The Firm offers these products through its subsidiary, Kingstone Insurance Company (KICO). KICO is a licensed property and casualty insurance firm in New York, New Jersey, Connecticut, Pennsylvania and Texas. The Firm operates through property and casualty insurances segment, which offers a range of property and casualty policies to its producers. The Firm underwrites its business utilizing the CLUE industry claims database, insurance scoring reports, physical inspection of risks and other individual risk underwriting tools. It writes homeowners and dwelling fire business in New York City and Long Island. The Company’s product lines include personal lines, commercial liability, commercial automobile, livery physical damage and other.

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