Nicholas Financial, Inc. (NASDAQ:NICK) Short Interest Update

Nicholas Financial, Inc. (NASDAQ:NICK) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 60,200 shares, a growth of 35.9% from the September 30th total of 44,300 shares. Based on an average daily volume of 9,800 shares, the short-interest ratio is presently 6.1 days. Approximately 0.8% of the shares of the company are sold short.

Separately, TheStreet lowered Nicholas Financial from a “c-” rating to a “d” rating in a research note on Friday, July 19th.

NASDAQ NICK traded up $0.27 on Tuesday, reaching $8.83. The company had a trading volume of 3,200 shares, compared to its average volume of 5,601. The stock’s 50 day moving average is $8.84 and its 200-day moving average is $8.93. Nicholas Financial has a 52 week low of $7.92 and a 52 week high of $11.73.

Nicholas Financial (NASDAQ:NICK) last posted its quarterly earnings data on Friday, August 9th. The credit services provider reported $0.07 EPS for the quarter. Nicholas Financial had a negative return on equity of 4.87% and a negative net margin of 7.33%. The firm had revenue of $16.64 million for the quarter.

In other news, major shareholder Magnolia Capital Fund, Lp acquired 61,615 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $8.28 per share, for a total transaction of $510,172.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Adam K. Peterson purchased 15,101 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was bought at an average cost of $9.20 per share, for a total transaction of $138,929.20. The disclosure for this purchase can be found here. Insiders have bought 180,535 shares of company stock worth $1,564,087 over the last three months. Corporate insiders own 31.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of Nicholas Financial by 0.4% during the first quarter. FMR LLC now owns 449,033 shares of the credit services provider’s stock valued at $4,041,000 after purchasing an additional 1,622 shares in the last quarter. BlackRock Inc. lifted its stake in Nicholas Financial by 13.7% in the 2nd quarter. BlackRock Inc. now owns 30,427 shares of the credit services provider’s stock worth $286,000 after purchasing an additional 3,668 shares in the last quarter. Finally, Magnolia Group LLC lifted its position in shares of Nicholas Financial by 9.7% in the 2nd quarter. Magnolia Group LLC now owns 1,745,746 shares of the credit services provider’s stock worth $16,410,000 after purchasing an additional 154,824 shares during the period. 37.99% of the stock is currently owned by hedge funds and other institutional investors.

Nicholas Financial Company Profile

Nicholas Financial, Inc operates as a specialized consumer finance company in the United States. The company engages in acquiring and servicing automobile finance installment contracts for the purchase of new and used automobiles and light trucks. It also originates direct consumer loans and sells consumer-finance related products.

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