NI (NASDAQ:NODK) Stock Price Down 0.1% – Here’s Why

by · The Markets Daily

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of NI from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NI in a report on Thursday, June 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Check Out Our Latest Stock Report on NI

NI Stock Performance

The company has a 50-day simple moving average of $15.31 and a 200-day simple moving average of $13.94. The stock has a market cap of $324.40 million, a P/E ratio of -79.20 and a beta of 0.35.

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

Institutional Investors Weigh In On NI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its position in 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 grew its stake 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 purchasing an additional 2,426 shares during the last quarter. AQR Capital Management LLC bought a new position in NI in the 1st quarter worth approximately $143,000. Barclays PLC raised 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 purchasing an additional 1,359 shares during the last quarter. Finally, Empowered Funds LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 21.89% of the company’s stock.

About NI

(Get Free Report)

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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