NI (NASDAQ:NODK) Issues Earnings Results

by · The Markets Daily

NI (NASDAQ:NODK – Get Free Report) issued its earnings results on Friday. The company reported ($0.08) earnings per share (EPS) for the quarter, FiscalAI reports. NI had a net margin of 0.50% and a return on equity of 0.63%. The company had revenue of $76.57 million for the quarter.

NI Trading Down 0.3%

NI stock traded down $0.04 during trading hours on Friday, reaching $13.20. 11,244 shares of the company were exchanged, compared to its average volume of 10,213. NI has a 12 month low of $12.01 and a 12 month high of $17.24. The stock has a 50-day moving average of $13.44 and a 200 day moving average of $13.05. The firm has a market cap of $272.84 million, a price-to-earnings ratio of 165.00 and a beta of 0.37.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NI in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Check Out Our Latest Stock Analysis on NI

NI announced that its board has authorized a stock buyback program on Monday, August 25th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to purchase up to 1.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NODK. M3F Inc. lifted its position in shares of NI by 3.8% in the 2nd quarter. M3F Inc. now owns 1,463,721 shares of the company’s stock worth $18,648,000 after acquiring an additional 53,877 shares during the period. Newtyn Management LLC grew its position in NI by 4.5% during the 1st quarter. Newtyn Management LLC now owns 659,988 shares of the company’s stock worth $9,411,000 after acquiring an additional 28,161 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC increased its holdings in NI by 5.8% during the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 125,678 shares of the company’s stock valued at $1,792,000 after purchasing an additional 6,856 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of NI by 2.6% in the second quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock valued at $940,000 after buying an additional 1,903 shares during the last quarter. Finally, Nuveen LLC acquired a new position in NI during the 1st quarter worth about $368,000. 21.89% of the stock is currently owned by institutional investors and hedge funds.

About NI

(Get Free Report)

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.

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