NI Holdings Inc (NASDAQ:NODK) Short Interest Down 14.8% in September

NI Holdings Inc (NASDAQ:NODK) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 64,500 shares, a decrease of 14.8% from the August 31st total of 75,700 shares. Based on an average daily trading volume, of 23,800 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.9% of the company’s stock are short sold.

Separately, TheStreet upgraded shares of NI from a “c+” rating to a “b” rating in a report on Thursday, August 20th.

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of NI by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 34,003 shares of the company’s stock valued at $462,000 after purchasing an additional 1,862 shares during the period. Geode Capital Management LLC grew its stake in NI by 6.3% during the first quarter. Geode Capital Management LLC now owns 127,318 shares of the company’s stock valued at $1,726,000 after acquiring an additional 7,559 shares in the last quarter. State Street Corp grew its stake in NI by 9.4% during the first quarter. State Street Corp now owns 154,975 shares of the company’s stock valued at $2,101,000 after acquiring an additional 13,329 shares in the last quarter. JPMorgan Chase & Co. grew its stake in NI by 32.4% during the first quarter. JPMorgan Chase & Co. now owns 16,460 shares of the company’s stock valued at $223,000 after acquiring an additional 4,029 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of NI in the 1st quarter worth $32,000. Institutional investors and hedge funds own 23.29% of the company’s stock.

Shares of NI stock traded down $0.46 during trading on Thursday, hitting $16.43. The stock had a trading volume of 22,142 shares, compared to its average volume of 27,942. The firm’s fifty day simple moving average is $16.30 and its 200-day simple moving average is $14.58. The stock has a market cap of $362.66 million, a PE ratio of 14.69 and a beta of 0.27. NI has a 12 month low of $10.15 and a 12 month high of $18.32.

NI (NASDAQ:NODK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.85 earnings per share for the quarter. NI had a net margin of 8.93% and a return on equity of 8.24%. The company had revenue of $95.67 million during the quarter.

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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