NI (NASDAQ:NODK) Trading Down 2.9% – Should You Sell?

NI Holdings, Inc. (NASDAQ:NODK)’s stock price traded down 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 traded hands during mid-day trading, an increase of 20% from the average daily volume of 33,933 shares. The stock had previously closed at $16.33.

Wall Street Analysts Forecast Growth

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

NI Price Performance

The stock has a market cap of $324.61 million, a price-to-earnings ratio of -79.25 and a beta of 0.37. The firm’s fifty day moving average price is $14.26 and its two-hundred day moving average price is $13.65.

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

Institutional Investors Weigh In On NI

Hedge funds and other institutional investors have recently modified their holdings of the company. M3F Inc. raised its position in shares of NI by 7.9% during the first quarter. M3F Inc. now owns 1,652,020 shares of the company’s stock worth $21,295,000 after purchasing an additional 120,938 shares during the period. Goldman Sachs Group Inc. increased its stake in NI by 112.7% during the 4th 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in NI by 5.2% during the 4th 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 position in NI during the first quarter worth $143,000. Finally, Orchard Capital Management LLC raised its holdings 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 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