NI (NASDAQ:NODK) Rating Lowered to Strong Sell at BidaskClub

NI (NASDAQ:NODK) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Wednesday, BidAskClub reports.

Separately, TheStreet downgraded NI from a “b-” rating to a “c” rating in a research report on Monday, December 16th.

NASDAQ:NODK traded down $0.14 on Wednesday, reaching $16.11. The company’s stock had a trading volume of 13,083 shares, compared to its average volume of 8,108. NI has a 12-month low of $14.76 and a 12-month high of $19.64. The firm has a market cap of $355.95 million, a price-to-earnings ratio of 15.64 and a beta of 0.05. The stock has a 50 day moving average price of $16.75 and a 200 day moving average price of $17.06.

NI (NASDAQ:NODK) last posted its earnings results on Wednesday, November 6th. The company reported ($0.31) EPS for the quarter. NI had a net margin of 9.42% and a return on equity of 7.98%. The business had revenue of $70.25 million during the quarter.

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in NI by 8.9% in the third quarter. Rhumbline Advisers now owns 14,902 shares of the company’s stock valued at $255,000 after purchasing an additional 1,216 shares during the period. Charles Schwab Investment Management Inc. raised its position in NI by 3.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 54,985 shares of the company’s stock valued at $969,000 after purchasing an additional 1,949 shares during the period. Northern Trust Corp raised its position in NI by 2.3% in the second quarter. Northern Trust Corp now owns 103,684 shares of the company’s stock valued at $1,826,000 after purchasing an additional 2,297 shares during the period. BlackRock Inc. raised its position in NI by 1.5% in the second quarter. BlackRock Inc. now owns 531,398 shares of the company’s stock valued at $9,358,000 after purchasing an additional 7,678 shares during the period. Finally, Zebra Capital Management LLC purchased a new stake in NI in the third quarter valued at $184,000. Institutional investors own 21.65% of the company’s stock.

About NI

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

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