NI Holdings Inc (NASDAQ:NODK) Sees Large Increase in Short Interest
NI Holdings Inc (NASDAQ:NODK) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 54,100 shares, an increase of 63.4% from the May 30th total of 33,100 shares. Based on an average daily volume of 11,700 shares, the days-to-cover ratio is presently 4.6 days. Approximately 0.6% of the shares of the stock are short sold.
Shares of NASDAQ:NODK traded down $0.20 during midday trading on Thursday, hitting $17.99. The company’s stock had a trading volume of 5,100 shares, compared to its average volume of 10,728. The business’s 50 day moving average is $17.71. The stock has a market cap of $403.98 million, a P/E ratio of 11.64 and a beta of 0.06. NI has a 12-month low of $14.37 and a 12-month high of $19.64.
NI (NASDAQ:NODK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.62 earnings per share for the quarter. The firm had revenue of $60.57 million for the quarter. NI had a net margin of 16.51% and a return on equity of 12.44%.
Large investors have recently bought and sold shares of the company. Rhumbline Advisers purchased a new position in shares of NI in the fourth quarter worth about $217,000. Bank of America Corp DE raised its stake in NI by 41.3% during the fourth quarter. Bank of America Corp DE now owns 6,373 shares of the company’s stock worth $100,000 after purchasing an additional 1,862 shares during the period. TCW Group Inc. raised its stake in NI by 12.6% during the first quarter. TCW Group Inc. now owns 493,739 shares of the company’s stock worth $7,900,000 after purchasing an additional 55,118 shares during the period. Martingale Asset Management L P raised its stake in NI by 14.7% during the fourth quarter. Martingale Asset Management L P now owns 11,702 shares of the company’s stock worth $185,000 after purchasing an additional 1,500 shares during the period. Finally, BlackRock Inc. raised its stake in NI by 2.6% during the fourth quarter. BlackRock Inc. now owns 519,189 shares of the company’s stock worth $8,167,000 after purchasing an additional 13,132 shares during the period. 20.66% of the stock is currently owned by hedge funds and other institutional investors.
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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