Nicholas Financial (NASDAQ:NICK) was upgraded by stock analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.

Nicholas Financial (NICK) opened at $7.94 on Friday. The stock has a market cap of $63.22, a PE ratio of 38.19 and a beta of 0.72. Nicholas Financial has a twelve month low of $7.65 and a twelve month high of $12.50.

Hedge funds and other institutional investors have recently modified their holdings of the company. Western Standard LLC acquired a new position in shares of Nicholas Financial during the second quarter valued at about $372,000. Wedbush Securities Inc. lifted its position in shares of Nicholas Financial by 19.2% during the second quarter. Wedbush Securities Inc. now owns 100,428 shares of the credit services provider’s stock valued at $924,000 after purchasing an additional 16,145 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Nicholas Financial by 0.4% during the second quarter. Vanguard Group Inc. now owns 235,109 shares of the credit services provider’s stock valued at $2,170,000 after purchasing an additional 949 shares in the last quarter. FMR LLC lifted its position in shares of Nicholas Financial by 16.4% during the second quarter. FMR LLC now owns 491,983 shares of the credit services provider’s stock valued at $4,541,000 after purchasing an additional 69,255 shares in the last quarter. Finally, TCW Group Inc. lifted its position in shares of Nicholas Financial by 2.6% during the third quarter. TCW Group Inc. now owns 600,704 shares of the credit services provider’s stock valued at $5,208,000 after purchasing an additional 14,991 shares in the last quarter. Hedge funds and other institutional investors own 54.83% of the company’s stock.

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About Nicholas Financial

Nicholas Financial, Inc (Nicholas Financial-Canada) is a holding company. The Company’s business activities are conducted through its subsidiary, Nicholas Financial, Inc (Nicholas Financial). Nicholas Financial is a specialized consumer finance company engaged primarily in acquiring and servicing automobile finance installment contracts (Contracts) for purchases of new and used automobiles and light trucks.

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