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

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

Wall Street Analysts Forecast Growth

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

NI Price Performance

The company’s 50 day simple moving average is $13.53 and its 200 day simple moving average is $13.30. The company has a market capitalization of $274.11 million, a PE ratio of 102.31 and a beta of 0.38.

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

Hedge Funds Weigh In On NI

Several large investors have recently bought and sold shares of the stock. M3F Inc. increased its position in shares of NI by 3.8% during the second quarter. M3F Inc. now owns 1,463,721 shares of the company’s stock worth $18,648,000 after purchasing an additional 53,877 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 buying an additional 4,006 shares during the period. Orchard Capital Management LLC increased its position in 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 buying an additional 4,085 shares during the period. Bridgeway Capital Management LLC lifted its stake in NI by 3.9% in the third quarter. Bridgeway Capital Management LLC now owns 76,666 shares of the company’s stock valued at $1,040,000 after buying an additional 2,913 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of NI by 3.8% in the first quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock valued at $312,000 after acquiring an additional 796 shares during the period. 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