NI (NASDAQ:NODK) Stock Price Down 1.6% - Here's What Happened

Key Points

• The stock price of NI Holdings, Inc. (NASDAQ:NODK) decreased by 1.6%, closing at $12.24, with trading volume down 54% from its average.
• In its most recent earnings report, NI reported a loss of ($0.57) earnings per share and a revenue of $76.06 million for the quarter.
• Institutional investors collectively own 21.89% of NI’s stock, with several funds increasing their positions significantly during the second quarter.

NI Holdings, Inc. (NASDAQ:NODK - Get Free Report) fell 1.6% during trading on Monday . The company traded as low as $12.23 and last traded at $12.24. 4,893 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 10,559 shares. The stock had previously closed at $12.44.

NI Price Performance

The stock has a market cap of $253.00 million, a price-to-earnings ratio of 153.00 and a beta of 0.33. The firm has a 50 day simple moving average of $12.86 and a two-hundred day simple moving average of $13.35.

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

Hedge Funds Weigh In On NI

A number of hedge funds and other institutional investors have recently made changes to their positions in NODK. Bridgeway Capital Management LLC raised its position in shares of NI by 2.6% during the second quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company's stock worth $940,000 after purchasing an additional 1,903 shares during the period. M3F Inc. grew its position in shares of NI by 3.8% in the 2nd quarter. M3F Inc. now owns 1,463,721 shares of the company's stock valued at $18,648,000 after purchasing an additional 53,877 shares during the period. Nisa Investment Advisors LLC increased its stake in NI by 150.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the company's stock worth $25,000 after purchasing an additional 1,200 shares in the last quarter. Empowered Funds LLC raised its holdings in NI by 3.8% during 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 during the period. Finally, Philadelphia Financial Management of San Francisco LLC raised its holdings in NI by 5.8% during 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 during the period. 21.89% of the stock is owned by institutional investors.

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.

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