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

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Nicholas Financial, Inc. (NASDAQ:NICK) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 58,400 shares, a growth of 77.5% from the June 30th total of 32,900 shares. Based on an average trading volume of 6,700 shares, the days-to-cover ratio is currently 8.7 days. Approximately 0.8% of the company’s shares are short sold.

Shares of NASDAQ:NICK opened at $8.16 on Friday. The business has a 50-day moving average price of $7.92 and a 200 day moving average price of $7.14. The company has a market capitalization of $102.82 million, a price-to-earnings ratio of 15.11 and a beta of 0.59. Nicholas Financial has a 12-month low of $4.76 and a 12-month high of $9.90.

Nicholas Financial (NASDAQ:NICK) last issued its quarterly earnings data on Thursday, July 30th. The credit services provider reported $0.18 earnings per share (EPS) for the quarter. The firm had revenue of $14.15 million during the quarter. Nicholas Financial had a return on equity of 4.04% and a net margin of 7.22%.

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Nicholas Financial by 76.3% in the 4th quarter. Bank of America Corp DE now owns 50,536 shares of the credit services provider’s stock valued at $416,000 after buying an additional 21,868 shares during the period. Almitas Capital LLC purchased a new stake in Nicholas Financial during the first quarter worth $611,000. Wedbush Securities Inc. boosted its position in Nicholas Financial by 3.8% during the first quarter. Wedbush Securities Inc. now owns 113,118 shares of the credit services provider’s stock worth $661,000 after purchasing an additional 4,150 shares in the last quarter. FMR LLC boosted its position in Nicholas Financial by 0.4% during the first quarter. FMR LLC now owns 449,033 shares of the credit services provider’s stock worth $4,041,000 after purchasing an additional 1,622 shares in the last quarter. Finally, Magnolia Group LLC boosted its position in Nicholas Financial by 4.0% during the first quarter. Magnolia Group LLC now owns 2,029,784 shares of the credit services provider’s stock worth $11,854,000 after purchasing an additional 78,354 shares in the last quarter. Institutional investors own 37.72% of the company’s stock.

A number of analysts have issued reports on the company. ValuEngine downgraded Nicholas Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 25th. TheStreet raised Nicholas Financial from a “d+” rating to a “c-” rating in a research report on Thursday, July 2nd.

About Nicholas Financial

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.

See Also: Retained Earnings

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