NI (NASDAQ:NODK) Given “Sell (D)” Rating at Weiss Ratings

NI (NASDAQ:NODK)‘s stock had its “sell (d)” rating reaffirmed by investment analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

NI Price Performance

Shares of NODK stock opened at $13.65 on Friday. The firm has a market cap of $282.15 million, a P/E ratio of 170.63 and a beta of 0.37. NI has a 1-year low of $12.01 and a 1-year high of $17.24. The firm’s 50-day simple moving average is $13.34 and its 200-day simple moving average is $13.05.

NI (NASDAQ:NODK) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.57) earnings per share for the quarter. The company had revenue of $76.06 million for the quarter. NI had a return on equity of 0.63% and a net margin of 0.50%.

NI announced that its board has initiated a share buyback program on Monday, August 25th that allows the company to buyback $5.00 million in shares. This buyback authorization allows the company to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of NI

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in NI by 150.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the company’s stock worth $25,000 after purchasing an additional 1,200 shares in the last quarter. State of Wyoming increased its position in NI by 34.8% during the 1st quarter. State of Wyoming now owns 5,284 shares of the company’s stock worth $75,000 after purchasing an additional 1,363 shares in the last quarter. AQR Capital Management LLC acquired a new stake in NI during the 1st quarter worth approximately $143,000. Empowered Funds LLC increased its position in NI by 3.8% during the 1st quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock worth $312,000 after purchasing an additional 796 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in NI during the 1st quarter worth approximately $368,000. Institutional investors and hedge funds 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.