NI (NASDAQ:NODK) Raised to "Sell" at Wall Street Zen

Key Points

• Sell ratings now dominate: Wall Street Zen assigned NI a "sell" rating and Weiss Ratings downgraded the stock from "hold (c-)" to "sell (d+)," leaving NI with an average MarketBeat rating of "Sell."
• NI's latest quarter showed weak profitability, reporting a ($0.15) EPS on $60.99 million in revenue, with a negative net margin of 3.65% and negative return on equity of 4.24%.
• Despite the downgrades, several institutional investors (including Russell Investments, Wells Fargo, AQR and Barclays) increased or established positions recently, and institutions now own about 21.89% of the company.

NI (NASDAQ:NODK - Get Free Report) was upgraded by Wall Street Zen to a "sell" rating in a report issued on Saturday.

Separately, Weiss Ratings lowered shares of NI from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, NI has an average rating of "Sell".

NI Price Performance

NI stock opened at $12.90 on Friday. The firm has a 50 day simple moving average of $13.04 and a 200-day simple moving average of $13.32. The stock has a market capitalization of $264.71 million, a PE ratio of -26.33 and a beta of 0.35. NI has a 12-month low of $12.01 and a 12-month high of $14.70.

NI (NASDAQ:NODK - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $60.99 million during the quarter. NI had a negative net margin of 3.65% and a negative return on equity of 4.24%.

Institutional Trading of NI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its position in shares of NI by 158.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company's stock valued at $55,000 after acquiring an additional 2,505 shares in the last quarter. Wells Fargo & Company MN lifted its position in NI by 46.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,677 shares of the company's stock worth $102,000 after buying an additional 2,426 shares in the last quarter. AQR Capital Management LLC purchased a new stake in NI in the 1st quarter worth approximately $143,000. AE Wealth Management LLC purchased a new stake in NI in the 3rd quarter worth approximately $151,000. Finally, Barclays PLC lifted its position in NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company's stock worth $170,000 after buying an additional 1,359 shares in the last quarter. 21.89% of the stock is owned by institutional investors and hedge funds.

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. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc

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