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

Shares of Nicholas Financial (NASDAQ:NICK) traded up $0.13 during midday trading on Friday, hitting $7.94. 1,646 shares of the company were exchanged, compared to its average volume of 4,607. Nicholas Financial has a fifty-two week low of $7.65 and a fifty-two week high of $12.50. The company has a market capitalization of $100.02, a PE ratio of 37.19 and a beta of 0.72.

Several hedge funds and other institutional investors have recently modified their holdings of NICK. Wedbush Securities Inc. raised its stake 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. Magnolia Group LLC raised its stake in shares of Nicholas Financial by 7.0% during the second quarter. Magnolia Group LLC now owns 1,412,853 shares of the credit services provider’s stock valued at $12,998,000 after purchasing an additional 91,834 shares in the last quarter. Vanguard Group Inc. raised its stake 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 raised its stake 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, Western Standard LLC bought a new stake in shares of Nicholas Financial during the second quarter valued at about $372,000. Institutional investors and hedge funds own 54.83% of the company’s stock.

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Nicholas Financial Company Profile

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.

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

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