NI (NASDAQ:NODK) Shares Down 0.1% - Here's Why

Key Points

• NI shares slipped 0.1% to $15.84 in Monday midday trading, with volume about 11% above its average session volume.
• Analyst sentiment remains negative: although Wall Street Zen upgraded the stock from “sell” to “hold,” Weiss Ratings maintained a “sell (D-)” rating, leaving NI with a consensus “Sell” rating.
• NI reported quarterly EPS of $0.60 on $59.6 million in revenue, but continued to post a negative net margin of 1.60% and negative return on equity of 1.79%; institutional investors own 21.89% of the company.

NI Holdings, Inc. (NASDAQ:NODK - Get Free Report) shares dropped 0.1% during mid-day trading on Monday . The company traded as low as $15.69 and last traded at $15.84. Approximately 20,657 shares were traded during trading, an increase of 11% from the average session volume of 18,639 shares. The stock had previously closed at $15.85.

Analyst Ratings Changes

NODK has been the subject of a number of recent research reports. Wall Street Zen upgraded NI from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of NI in a research note on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

NI Price Performance

The firm has a market cap of $324.40 million, a P/E ratio of -79.20 and a beta of 0.35. The stock's 50 day moving average is $15.31 and its two-hundred day moving average is $13.94.

NI (NASDAQ:NODK - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.60 EPS for the quarter. The firm had revenue of $59.60 million during the quarter. NI had a negative net margin of 1.60% and a negative return on equity of 1.79%.

Hedge Funds Weigh In On NI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its position in NI by 158.7% in the third 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 during the period. Wells Fargo & Company MN lifted its holdings in shares of NI by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,677 shares of the company's stock valued at $102,000 after acquiring an additional 2,426 shares during the period. AQR Capital Management LLC bought a new position in shares of NI during the first quarter valued at $143,000. Barclays PLC boosted its stake in shares of NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company's stock valued at $170,000 after purchasing an additional 1,359 shares in the last quarter. Finally, Empowered Funds LLC boosted 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 valued at $312,000 after purchasing an additional 796 shares in the last quarter. Institutional investors own 21.89% of the company's stock.

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

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