NI (NASDAQ:NODK) Shares Down 0.4% - Time to Sell?

Key Points

• Shares of NI Holdings, Inc. (NASDAQ:NODK) fell by 0.4% to a last traded price of $13.50, with trading volume down by 26% compared to average sessions.
• Weiss Ratings has reiterated a "sell" rating on NI, with a consensus rating of "Sell" from analysts.
• The company recently initiated a $5 million stock repurchase plan, signaling that the board believes the stock is undervalued.

Shares of NI Holdings, Inc. (NASDAQ:NODK - Get Free Report) fell 0.4% on Friday . The stock traded as low as $13.45 and last traded at $13.50. 7,677 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 10,337 shares. The stock had previously closed at $13.55.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of NI in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of "Sell".

NI Trading Down 0.4%

The firm has a market cap of $279.05 million, a PE ratio of 168.75 and a beta of 0.37. The firm has a fifty day simple moving average of $13.25 and a two-hundred day simple moving average of $13.05.

NI (NASDAQ:NODK - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.57) earnings per share (EPS) 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 for the quarter.

NI declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 25th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Institutional Trading of NI

Several large investors have recently bought and sold shares of NODK. M3F Inc. grew its holdings in shares of NI by 5.5% during the 1st quarter. M3F Inc. now owns 1,409,844 shares of the company's stock worth $20,104,000 after acquiring an additional 73,514 shares during the period. Newtyn Management LLC boosted its position in shares of NI by 4.5% during the first quarter. Newtyn Management LLC now owns 659,988 shares of the company's stock valued at $9,411,000 after purchasing an additional 28,161 shares in the last quarter. Nuveen LLC purchased a new stake in NI in the first quarter worth $368,000. AQR Capital Management LLC bought a new position in NI in the first quarter worth $143,000. Finally, Philadelphia Financial Management of San Francisco LLC lifted its position in NI by 5.8% during 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 period. 21.89% of the stock is owned by 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.

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