Among the latest filings with the Securities and Exchange Commission, activist investor Joseph Stillwell revealed upping his stake in Kingsway Financial Services Inc. (USA) (NYSE:KFS). In another filing, Carlyle Group disclosed closing its entire stake in YRC Worldwide Inc (NASDAQ:YRCW).
Josesph Stillwell reported adding around 576,100 shares of Kingsway Financial Services Inc. (USA) (NYSE:KFS) to his stake. The securities have been obtained in one transaction at a price of $4.50 apiece. However, the shares were not acquired, but have been converted from Series A Warrants. Following the increase of the activist stake, Mr. Stillwell owns close to 3.88 million shares of Kingsway Financial Services Inc. (USA) (NYSE:KFS), which are equal to almost 20% of the company’s outstanding common stock. The position contains around 3.80 million shares of common stock and 82,100 shares that can be converted from 13,100 shares of class A preferred stock of Kingsway Financial Services Inc. (USA) (NYSE:KFS).
As it was mentioned above, Carlyle Group revealed selling its whole position in YRC Worldwide Inc (NASDAQ:YRCW). In two transactions, Carlyle Group disposed of approximately 4.08 million shares it held previously. The first 3.0 million shares have been sold at a price of $21.84 per share, while the rest 1.08 million shares have been disposed of at a price of $22.05 apiece.
YRC Worldwide Inc (NASDAQ:YRCW) is a company engaged in providing transportation services and logistics. It has a market cap of $641 million and gained around 18% since the beginning of the year in terms of stock price. Among the hedge funds that we track at Insider Monkey, the largest shareholder of YRC Worldwide Inc (NASDAQ:YRCW) is Marc Lasry‘s Avenue Capital, which revealed holding 7.27 million shares in its latest 13F filing, raising its stake by 700% during the second quarter.