Nicholas Financial (NICK) Rating Lowered to Sell at ValuEngine

ValuEngine cut shares of Nicholas Financial (NASDAQ:NICK) from a hold rating to a sell rating in a report released on Wednesday morning.

Shares of NICK stock opened at $10.79 on Wednesday. The company has a market capitalization of $131.24 million, a PE ratio of 26.67 and a beta of 0.72. Nicholas Financial has a fifty-two week low of $7.59 and a fifty-two week high of $12.50.

Nicholas Financial (NASDAQ:NICK) last issued its quarterly earnings data on Thursday, November 1st. The credit services provider reported $0.07 earnings per share for the quarter. The firm had revenue of $19.40 million for the quarter. Nicholas Financial had a positive return on equity of 2.88% and a negative net margin of 0.32%.

Hedge funds have recently modified their holdings of the company. Magnolia Group LLC boosted its position in Nicholas Financial by 5.7% during the second quarter. Magnolia Group LLC now owns 1,493,466 shares of the credit services provider’s stock worth $13,740,000 after purchasing an additional 80,613 shares during the period. BlackRock Inc. boosted its position in Nicholas Financial by 20.9% during the second quarter. BlackRock Inc. now owns 26,628 shares of the credit services provider’s stock worth $245,000 after purchasing an additional 4,609 shares during the period. Western Standard LLC boosted its position in Nicholas Financial by 30.0% during the second quarter. Western Standard LLC now owns 139,693 shares of the credit services provider’s stock worth $1,285,000 after purchasing an additional 32,232 shares during the period. FMR LLC boosted its position in Nicholas Financial by 2.3% during the third quarter. FMR LLC now owns 443,622 shares of the credit services provider’s stock worth $5,239,000 after purchasing an additional 9,879 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Nicholas Financial by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 505,216 shares of the credit services provider’s stock worth $5,967,000 after purchasing an additional 10,548 shares during the period. Hedge funds and other institutional investors own 35.87% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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