NI (NASDAQ:NODK) Shares Down 0.1% – Should You Sell?

NI Holdings, Inc. (NASDAQ:NODK)’s share price fell 0.1% during mid-day trading on Monday . The stock traded as low as $15.69 and last traded at $15.84. 20,657 shares changed hands during trading, an increase of 11% from the average session volume of 18,639 shares. The stock had previously closed at $15.85.

Wall Street Analyst Weigh In

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

NI Price Performance

The firm has a 50-day simple moving average of $15.35 and a 200 day simple moving average of $13.96. The stock has a market capitalization of $319.69 million, a P/E ratio of -78.05 and a beta of 0.35.

NI (NASDAQ:NODK) last released 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 for the quarter.

Hedge Funds Weigh In On NI

Several institutional investors and hedge funds have recently added to or reduced their stakes in NODK. Russell Investments Group Ltd. raised its stake in shares of NI by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock valued at $55,000 after acquiring an additional 2,505 shares during the last quarter. Wells Fargo & Company MN increased its holdings in NI by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock valued at $102,000 after purchasing an additional 2,426 shares during the period. AQR Capital Management LLC acquired a new stake in NI in the first quarter valued at $143,000. Barclays PLC raised its position in NI by 11.9% during the 4th quarter. Barclays PLC now owns 12,749 shares of the company’s stock worth $170,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Empowered Funds LLC raised 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 during the last quarter. 21.89% of the stock is currently owned by institutional investors and hedge funds.

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