NI (NODK) Rating Lowered to Buy at BidaskClub

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NI (NASDAQ:NODK) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Shares of NI stock opened at $15.94 on Wednesday. NI has a 1-year low of $14.37 and a 1-year high of $17.90. The firm has a market cap of $355.07 million, a price-to-earnings ratio of 13.93 and a beta of 0.30.

NI (NASDAQ:NODK) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.24 earnings per share for the quarter. NI had a return on equity of 9.61% and a net margin of 14.42%. The company had revenue of $64.10 million during the quarter.

Several hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. bought a new position in NI during the 3rd quarter worth about $100,000. Martingale Asset Management L P acquired a new stake in NI during the third quarter worth approximately $173,000. Dimensional Fund Advisors LP acquired a new stake in NI during the second quarter worth approximately $451,000. Renaissance Technologies LLC acquired a new stake in shares of NI in the second quarter valued at approximately $807,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of NI by 21.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 50,465 shares of the company’s stock valued at $856,000 after buying an additional 9,024 shares in the last quarter. 20.14% of the stock is currently owned by institutional investors.

About NI

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

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