Nicholas Financial, Inc. (NASDAQ:NICK) Sees Significant Increase in Short Interest

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Nicholas Financial, Inc. (NASDAQ:NICK) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 31,500 shares, an increase of 55.2% from the May 30th total of 20,300 shares. Approximately 0.4% of the shares of the company are short sold. Based on an average daily trading volume, of 6,700 shares, the days-to-cover ratio is currently 4.7 days.

In related news, major shareholder Magnolia Capital Fund, Lp bought 87,231 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $9.01 per share, for a total transaction of $785,951.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Adam K. Peterson bought 27,508 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was bought at an average price of $9.02 per share, for a total transaction of $248,122.16. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 203,464 shares of company stock worth $1,840,865. 27.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in shares of Nicholas Financial by 0.4% in 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 during the period. Dimensional Fund Advisors LP grew its position in shares of Nicholas Financial by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 508,401 shares of the credit services provider’s stock valued at $5,287,000 after purchasing an additional 3,185 shares during the period. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Nicholas Financial in the fourth quarter valued at about $56,000. Institutional investors and hedge funds own 36.64% of the company’s stock.

Shares of NASDAQ NICK traded down $0.10 during trading on Thursday, hitting $8.80. The company had a trading volume of 2,899 shares, compared to its average volume of 5,977. The firm’s fifty day simple moving average is $9.05. Nicholas Financial has a fifty-two week low of $7.92 and a fifty-two week high of $12.50.

Nicholas Financial (NASDAQ:NICK) last announced its earnings results on Wednesday, May 29th. The credit services provider reported ($0.60) earnings per share (EPS) for the quarter. Nicholas Financial had a negative net margin of 5.12% and a negative return on equity of 3.72%. The company had revenue of $16.40 million during the quarter.

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.

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