NI (NASDAQ:NODK) Trading Down 0.6% – Here’s Why

NI Holdings, Inc. (NASDAQ:NODK) shares traded down 0.6% on Monday . The stock traded as low as $12.86 and last traded at $12.94. 5,884 shares were traded during mid-day trading, a decline of 65% from the average session volume of 16,870 shares. The stock had previously closed at $13.02.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of NI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, NI has an average rating of “Sell”.

NI Price Performance

The stock has a market capitalization of $267.79 million, a price-to-earnings ratio of -26.63 and a beta of 0.38. The business’s fifty day moving average price is $13.08 and its 200-day moving average price is $13.33.

NI (NASDAQ:NODK) last issued its quarterly earnings data on Friday, March 6th. The company reported ($0.15) earnings per share (EPS) for the quarter. The business had revenue of $60.99 million for the quarter. NI had a negative net margin of 3.65% and a negative return on equity of 4.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NODK. AQR Capital Management LLC acquired a new position in shares of NI during the first quarter valued at about $143,000. Empowered Funds LLC boosted its holdings in NI by 3.8% during the first quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock worth $312,000 after purchasing an additional 796 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in 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 last quarter. AE Wealth Management LLC purchased a new position in NI during the third quarter worth about $151,000. Finally, Dimensional Fund Advisors LP boosted its holdings in NI by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 309,116 shares of the company’s stock worth $4,192,000 after purchasing an additional 4,006 shares during the last quarter. 21.89% of the stock is currently owned by institutional investors and hedge funds.

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