NI (NASDAQ:NODK) Shares Down 2.9% – Here’s What Happened

NI Holdings, Inc. (NASDAQ:NODK)’s stock price fell 2.9% during mid-day trading on Monday . The company traded as low as $15.76 and last traded at $15.85. 40,556 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 33,933 shares. The stock had previously closed at $16.33.

Wall Street Analyst Weigh In

NODK has been the subject of several research analyst reports. 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 reissued a “sell (d-)” rating on shares of NI in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

NI Trading Up 2.1%

The firm has a market capitalization of $328.50 million, a price-to-earnings ratio of -80.20 and a beta of 0.37. The stock’s 50-day moving average is $14.31 and its 200-day moving average is $13.66.

NI (NASDAQ:NODK) last issued its earnings results on Friday, May 8th. The company reported $0.60 earnings per share for the quarter. The firm had revenue of $59.60 million for the quarter. NI had a negative net margin of 1.60% and a negative return on equity of 1.79%.

Institutional Investors Weigh In On NI

Several hedge funds have recently modified their holdings of NODK. M3F Inc. grew its position in NI by 7.9% during the 1st quarter. M3F Inc. now owns 1,652,020 shares of the company’s stock worth $21,295,000 after acquiring an additional 120,938 shares during the last quarter. Goldman Sachs Group Inc. raised its position in NI by 112.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 32,983 shares of the company’s stock valued at $439,000 after purchasing an additional 17,473 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of NI by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 325,296 shares of the company’s stock valued at $4,327,000 after purchasing an additional 16,180 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of NI during the first quarter valued at about $143,000. Finally, Orchard Capital Management LLC grew its holdings in shares of NI by 3.6% during the third quarter. Orchard Capital Management LLC now owns 118,817 shares of the company’s stock worth $1,611,000 after purchasing an additional 4,085 shares during the last quarter. Institutional investors and hedge funds own 21.89% of the company’s stock.

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