Short Interest in NI Holdings, Inc. (NASDAQ:NODK) Drops By 14.1%

NI Holdings, Inc. (NASDAQ:NODK) saw a significant drop in short interest in April. As of April 15th, there was short interest totalling 35,800 shares, a drop of 14.1% from the March 31st total of 41,700 shares. Based on an average trading volume of 17,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NODK. M3F Inc. grew its stake in NI by 21.8% during the 4th quarter. M3F Inc. now owns 1,336,330 shares of the company’s stock valued at $20,980,000 after purchasing an additional 239,316 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of NI by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 270,564 shares of the company’s stock worth $4,248,000 after buying an additional 11,240 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of NI by 1.9% in the third quarter. Geode Capital Management LLC now owns 169,290 shares of the company’s stock worth $2,655,000 after buying an additional 3,092 shares during the last quarter. Renaissance Technologies LLC raised its holdings in NI by 5.9% in the fourth quarter. Renaissance Technologies LLC now owns 87,891 shares of the company’s stock valued at $1,380,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in NI by 15.2% during the 4th quarter. Northern Trust Corp now owns 74,332 shares of the company’s stock valued at $1,167,000 after acquiring an additional 9,832 shares during the last quarter. Institutional investors and hedge funds own 21.89% of the company’s stock.

NI Stock Up 2.2 %

NODK opened at $12.91 on Friday. The firm’s 50 day moving average is $13.67 and its 200-day moving average is $14.85. NI has a 52-week low of $12.30 and a 52-week high of $17.24. The firm has a market capitalization of $267.22 million, a P/E ratio of -46.11 and a beta of 0.33.

NI (NASDAQ:NODK) last released its quarterly earnings results on Friday, March 7th. The company reported $0.47 earnings per share (EPS) for the quarter. The firm had revenue of $73.91 million for the quarter. NI had a negative net margin of 1.63% and a positive return on equity of 1.16%.

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.