NI (NASDAQ:NODK) Shares Down 0.4% – Here’s Why

Shares of NI Holdings, Inc. (NASDAQ:NODK) dropped 0.4% on Friday . The stock traded as low as $13.21 and last traded at $13.30. Approximately 7,989 shares changed hands during trading, a decline of 39% from the average daily volume of 13,073 shares. The stock had previously closed at $13.36.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut NI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

NI Price Performance

The stock has a fifty day moving average price of $13.53 and a 200 day moving average price of $13.30. The stock has a market capitalization of $274.11 million, a P/E ratio of 102.31 and a beta of 0.38.

NI (NASDAQ:NODK) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. NI had a net margin of 0.87% and a return on equity of 1.05%. The company had revenue of $76.57 million for the quarter.

Hedge Funds Weigh In On NI

A number of large investors have recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in NI during the first quarter valued at approximately $143,000. Empowered Funds LLC lifted its stake in NI by 3.8% in the 1st quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock worth $312,000 after purchasing an additional 796 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in NI by 150.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the company’s stock valued at $25,000 after purchasing an additional 1,200 shares during the period. M3F Inc. boosted its holdings in 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. Finally, Bridgeway Capital Management LLC grew its position in shares of NI by 2.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock valued at $940,000 after purchasing an additional 1,903 shares in the last quarter. 21.89% of the stock is currently 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. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc