Nicholas Financial, Inc. (NASDAQ:NICK) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 24,900 shares, a decrease of 7.4% from the June 30th total of 26,900 shares. Based on an average daily trading volume, of 6,700 shares, the short-interest ratio is presently 3.7 days. Approximately 0.4% of the shares of the company are sold short.
In other Nicholas Financial news, major shareholder Adam K. Peterson bought 33,416 shares of Nicholas Financial stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $8.36 per share, with a total value of $279,357.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas W. Marohn bought 11,000 shares of Nicholas Financial stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $9.66 per share, with a total value of $106,260.00. Following the completion of the acquisition, the chief executive officer now directly owns 41,158 shares of the company’s stock, valued at approximately $397,586.28. The disclosure for this purchase can be found here. Insiders bought 297,458 shares of company stock valued at $2,617,933 over the last ninety days. Corporate insiders own 31.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Nicholas Financial by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 508,401 shares of the credit services provider’s stock worth $5,287,000 after purchasing an additional 3,185 shares in the last quarter. FMR LLC raised its holdings in Nicholas Financial by 0.9% during the fourth quarter. FMR LLC now owns 447,411 shares of the credit services provider’s stock worth $4,653,000 after purchasing an additional 3,789 shares in the last quarter. Magnolia Group LLC raised its holdings in Nicholas Financial by 9.7% during the second 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 in the last quarter. Finally, BlackRock Inc. raised its holdings in Nicholas Financial by 13.7% during the second 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. 37.81% of the stock is owned by hedge funds and other institutional investors.
Separately, TheStreet cut shares of Nicholas Financial from a “c-” rating to a “d” rating in a report on Friday, July 19th.
Shares of NASDAQ:NICK opened at $8.69 on Friday. The company has a 50-day simple moving average of $8.74 and a 200-day simple moving average of $9.25. Nicholas Financial has a one year low of $7.92 and a one year high of $12.50.
Nicholas Financial (NASDAQ:NICK) last posted its quarterly earnings results on Friday, August 9th. The credit services provider reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $16.64 million during the quarter. Nicholas Financial had a negative net margin of 6.47% and a negative return on equity of 4.50%.
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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