Newtyn Management LLC Buys 28,161 Shares of NI Holdings, Inc. $NODK

Key Points

• Newtyn Management LLC increased its stake in NI Holdings, Inc. by acquiring an additional 28,161 shares, raising its total holdings to 659,988 shares, which represents about 1.5% of its portfolio.
• NI Holdings recently reported a loss of ($0.57) earnings per share, with a revenue of $76.06 million and a net margin of 0.50% for the last quarter.
• The company's Board of Directors has approved a $5.00 million stock repurchase program, allowing the buyback of up to 1.9% of its shares, suggesting that they believe the stock is undervalued.

Newtyn Management LLC raised its stake in shares of NI Holdings, Inc. (NASDAQ:NODK - Free Report) by 4.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 659,988 shares of the company's stock after acquiring an additional 28,161 shares during the period. NI makes up approximately 1.5% of Newtyn Management LLC's holdings, making the stock its 18th biggest position. Newtyn Management LLC owned approximately 3.19% of NI worth $9,411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in NI by 26.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,882 shares of the company's stock valued at $61,000 after acquiring an additional 815 shares during the period. Wells Fargo & Company MN increased its holdings in NI by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 4,579 shares of the company's stock worth $72,000 after acquiring an additional 997 shares in the last quarter. State of Wyoming increased its holdings in NI by 34.8% in the 1st quarter. State of Wyoming now owns 5,284 shares of the company's stock worth $75,000 after acquiring an additional 1,363 shares in the last quarter. AQR Capital Management LLC purchased a new stake in NI during the 1st quarter valued at approximately $143,000. Finally, Citadel Advisors LLC grew its holdings in NI by 61.4% during the 4th quarter. Citadel Advisors LLC now owns 18,328 shares of the company's stock valued at $288,000 after buying an additional 6,972 shares in the last quarter. Institutional investors own 21.89% of the company's stock.

NI Stock Performance

NODK traded up $0.08 during trading on Wednesday, reaching $13.33. 719 shares of the company traded hands, compared to its average volume of 15,065. The firm has a fifty day simple moving average of $12.97 and a 200 day simple moving average of $13.18. NI Holdings, Inc. has a 12-month low of $12.01 and a 12-month high of $17.24. The company has a market cap of $275.53 million, a P/E ratio of 166.63 and a beta of 0.34.

NI (NASDAQ:NODK - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.57) earnings per share for the quarter. NI had a net margin of 0.50% and a return on equity of 0.63%. The business had revenue of $76.06 million during the quarter.

NI announced that its Board of Directors has initiated a share repurchase program on Monday, August 25th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

NI Profile

NI Holdings, Inc underwrites property and casualty insurance products in the United States. Its products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota.