NI (NASDAQ:NODK) Stock Price Down 2.9% – What’s Next?

NI Holdings, Inc. (NASDAQ:NODK) shares 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 were traded 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.

Analysts Set New Price Targets

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

NI Stock Performance

The stock has a market capitalization of $324.61 million, a price-to-earnings ratio of -79.25 and a beta of 0.37. The company has a fifty day simple moving average of $14.26 and a 200 day simple moving average of $13.65.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new position in shares of NI in the 1st quarter worth approximately $143,000. Empowered Funds LLC raised its stake 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 buying an additional 796 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in NI by 2.6% in the second quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock valued at $940,000 after buying an additional 1,903 shares during the period. Dimensional Fund Advisors LP lifted its holdings in NI by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 309,116 shares of the company’s stock valued at $4,192,000 after buying an additional 4,006 shares during the period. Finally, Orchard Capital Management LLC boosted 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 valued at $1,611,000 after acquiring an additional 4,085 shares during the last quarter. Institutional investors own 21.89% of the company’s stock.

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