Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Grows By 87.7%

NI Holdings, Inc. (NASDAQ:NODK) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 57,199 shares, an increase of 87.7% from the February 26th total of 30,472 shares. Based on an average daily trading volume, of 18,607 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Investors Weigh In On NI

A number of large investors have recently added to or reduced their stakes in NODK. M3F Inc. lifted its holdings in shares of NI by 3.8% during the 2nd quarter. M3F Inc. now owns 1,463,721 shares of the company’s stock valued at $18,648,000 after buying an additional 53,877 shares during the period. Geode Capital Management LLC boosted its stake in shares of NI by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 173,765 shares of the company’s stock worth $2,311,000 after buying an additional 2,292 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of NI by 3.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 79,234 shares of the company’s stock worth $1,054,000 after acquiring an additional 2,568 shares during the period. Empowered Funds LLC grew its holdings in shares of NI by 9.6% in the fourth quarter. Empowered Funds LLC now owns 29,234 shares of the company’s stock worth $389,000 after acquiring an additional 2,568 shares during the period. Finally, AQR Capital Management LLC increased its position in NI by 7.2% during the fourth quarter. AQR Capital Management LLC now owns 16,708 shares of the company’s stock valued at $222,000 after acquiring an additional 1,128 shares during the last quarter. Institutional investors own 21.89% of the company’s stock.

NI Trading Down 3.3%

NASDAQ:NODK traded down $0.43 during mid-day trading on Friday, reaching $12.48. The company’s stock had a trading volume of 63,370 shares, compared to its average volume of 23,679. The stock has a market cap of $256.34 million, a P/E ratio of -25.47 and a beta of 0.39. The firm’s fifty day moving average price is $13.26 and its two-hundred day moving average price is $13.42. NI has a 12-month low of $12.01 and a 12-month high of $14.70.

NI (NASDAQ:NODK) last announced its quarterly earnings results on Friday, March 6th. The company reported ($0.15) EPS for the quarter. NI had a negative return on equity of 4.24% and a negative net margin of 3.65%.The company had revenue of $60.99 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of NI from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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