NI (NODK) Lowered to Strong Sell at BidaskClub

NI (NASDAQ:NODK) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Friday.

NI stock opened at $15.74 on Friday. The stock has a market cap of $345.24 million, a price-to-earnings ratio of 19.80 and a beta of -0.01. NI has a 52-week low of $15.10 and a 52-week high of $17.95.

NI (NASDAQ:NODK) last posted its earnings results on Friday, August 3rd. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $52.92 million during the quarter. NI had a net margin of 8.60% and a return on equity of 6.74%.

A number of institutional investors have recently bought and sold shares of NODK. TCW Group Inc. boosted its stake in NI by 174.2% during the 2nd quarter. TCW Group Inc. now owns 217,034 shares of the company’s stock valued at $3,679,000 after purchasing an additional 137,871 shares during the period. Western Standard LLC boosted its stake in NI by 267.1% during the 2nd quarter. Western Standard LLC now owns 83,740 shares of the company’s stock valued at $1,419,000 after purchasing an additional 60,930 shares during the period. Renaissance Technologies LLC acquired a new position in NI during the 2nd quarter valued at about $807,000. Dimensional Fund Advisors LP acquired a new position in NI during the 2nd quarter valued at about $451,000. Finally, BlackRock Inc. boosted its stake in NI by 5.0% during the 2nd quarter. BlackRock Inc. now owns 502,570 shares of the company’s stock valued at $8,519,000 after purchasing an additional 24,054 shares during the period. 19.49% of the stock is owned by hedge funds and other institutional investors.

NI Company Profile

NI Holdings, Inc underwrites property and casualty insurance products in North Dakota, South Dakota, Nebraska, Minnesota, Nevada, and Arizona. Its products include multi-peril crop, crop hail, private passenger automobile, farm owners, homeowners, and commercial property and liability insurance policies.

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