NI (NASDAQ:NODK) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of NI (NASDAQ:NODK) to a sell rating in a research report sent to investors on Saturday.

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

NI Price Performance

NASDAQ NODK opened at $12.90 on Friday. The firm’s 50-day moving average is $13.04 and its two-hundred day moving average is $13.32. NI has a 12 month low of $12.01 and a 12 month high of $14.70. The stock has a market capitalization of $264.71 million, a P/E ratio of -26.33 and a beta of 0.35.

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

Institutional Trading of NI

A number of institutional investors and hedge funds have recently bought and sold shares of NODK. Russell Investments Group Ltd. increased its stake in NI by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock worth $55,000 after purchasing an additional 2,505 shares during the period. Wells Fargo & Company MN increased its stake in NI by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after purchasing an additional 2,426 shares during the period. AQR Capital Management LLC purchased a new stake in NI during the first quarter worth about $143,000. AE Wealth Management LLC purchased a new stake in shares of NI during the third quarter worth approximately $151,000. Finally, Barclays PLC raised its holdings in NI by 11.9% in the fourth quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after acquiring an additional 1,359 shares in the last quarter. 21.89% of the stock is currently owned by hedge funds and other institutional investors.

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