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Kingsway Financial Services Inc. (USA) (KFS), YRC Worldwide Inc (YRCW) Among Activist Investors’ Latest Moves

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.

Disclosure: none