NI (NASDAQ:NODK) Given "Sell (D)" Rating at Weiss Ratings

Key Points

• NI (NASDAQ:NODK) received a "sell (d)" rating from Weiss Ratings, indicating a negative outlook for the stock.
• The company recently announced a stock repurchase program, allowing it to buy back up to $5 million in outstanding shares, suggesting management believes the stock is undervalued.
• In its latest earnings report, NI posted a loss of ($0.57) EPS and generated $76.06 million in revenue for the quarter.

NI (NASDAQ:NODK - Get Free Report)'s stock had its "sell (d)" rating reissued by investment analysts at Weiss Ratings in a research report issued on Saturday,Weiss Ratings reports.

NI Stock Performance

Shares of NASDAQ NODK opened at $13.65 on Friday. The firm has a market capitalization of $282.15 million, a P/E ratio of 170.63 and a beta of 0.37. NI has a one year low of $12.01 and a one year high of $17.24. The company's fifty day moving average is $13.34 and its two-hundred day moving average is $13.05.

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

NI announced that its board has approved a stock repurchase program on Monday, August 25th that allows the company to repurchase $5.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On NI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. M3F Inc. raised its position in shares of NI by 5.5% in the first quarter. M3F Inc. now owns 1,409,844 shares of the company's stock valued at $20,104,000 after buying an additional 73,514 shares during the last quarter. Newtyn Management LLC raised its position in shares of NI by 4.5% in the first quarter. Newtyn Management LLC now owns 659,988 shares of the company's stock valued at $9,411,000 after buying an additional 28,161 shares during the last quarter. Nuveen LLC acquired a new position in shares of NI in the first quarter valued at approximately $368,000. AQR Capital Management LLC acquired a new position in shares of NI in the first quarter valued at approximately $143,000. Finally, Philadelphia Financial Management of San Francisco LLC raised its position in shares of NI by 5.8% in the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 125,678 shares of the company's stock valued at $1,792,000 after buying an additional 6,856 shares during the last quarter. 21.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.