Cutler Capital Management Exits Position in Nicholas Financial (NICK)

Nicholas Financial (NICK) : Cutler Capital Management has sold out all of its stake in Nicholas Financial during the most recent quarter, according to the disclosure filed by the company on Jul 26, 2016 with the SEC. The investment management company has sold out 12,000 shares of Nicholas Financial which is valued at $127,440.

Other Hedge Funds, Including , Acadian Asset Management sold out all of its stake in NICK during the most recent quarter. The investment firm sold 6,418 shares of NICK which is valued $69,828.

Nicholas Financial opened for trading at $10.6975 and hit $10.74 on the upside on Friday, eventually ending the session at $10.68, with a gain of 0.19% or 0.02 points. The heightened volatility saw the trading volume jump to 2,035 shares. Company has a market cap of $83 M.

Nicholas Financial Inc. (Nicholas Financial-Canada) is a holding company. The business activities of Nicholas Financial-Canada are conducted through its wholly owned indirect 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. Nicholas Financial also originates direct consumer loans (Direct Loans) and sells consumer-finance related products. Another subsidiary Nicholas Data Services Inc. (NDS) acts as the interim holding company for Nicholas Financial. The Company had non-exclusive agreements with approximately 4000 dealers of which approximately 2300 are active for the purchase of individual Contracts that meet the Company’s financing criteria. Its loan portfolio consists of Contracts purchased without recourse to the dealer.

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