NI Holdings, Inc. (NASDAQ:NODK) Sees Significant Increase in Short Interest

NI Holdings, Inc. (NASDAQ:NODK - Get Free Report) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 51,800 shares, a growth of 46.7% from the April 30th total of 35,300 shares. Based on an average trading volume of 18,800 shares, the days-to-cover ratio is currently 2.8 days. Approximately 0.8% of the shares of the company are short sold.

NI Stock Up 1.7%

NODK stock traded up $0.21 during trading on Thursday, reaching $12.84. 17,117 shares of the company's stock were exchanged, compared to its average volume of 20,303. NI has a 1-year low of $12.01 and a 1-year high of $17.24. The company's fifty day moving average price is $13.03 and its 200-day moving average price is $14.39. The firm has a market cap of $265.78 million, a PE ratio of -45.86 and a beta of 0.38.

NI (NASDAQ:NODK - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.31 earnings per share (EPS) for the quarter. NI had a positive return on equity of 1.16% and a negative net margin of 1.63%. The company had revenue of $71.43 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NODK. Empowered Funds LLC raised its stake in shares of NI by 3.8% in the 1st quarter. Empowered Funds LLC now owns 21,850 shares of the company's stock worth $312,000 after buying an additional 796 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC raised its stake in shares of NI by 5.8% in the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 125,678 shares of the company's stock worth $1,792,000 after buying an additional 6,856 shares in the last quarter. Newtyn Management LLC raised its stake in shares of NI by 4.5% in the 1st quarter. Newtyn Management LLC now owns 659,988 shares of the company's stock worth $9,411,000 after buying an additional 28,161 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of NI in the 1st quarter worth $143,000. Finally, State of Wyoming raised its stake in shares of 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 buying an additional 1,363 shares in the last quarter. Institutional investors and hedge funds own 21.89% of the company's stock.

About NI

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.