Magnolia Capital Fund, LP
revealed that they own a 18.1% stake in Nicholas Financial, Inc. (NASDAQ:NICK) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Monday, July 31st. The investor owns 1,412,853 shares of the stock valued at about $12,108,150. The reporting parties listed on the disclosure included Magnolia Capital Fund, LP, The Magnolia Group, LLC and Adam K Peterson. The disclosure is available through EDGAR at this link.
Magnolia Capital Fund, LP
provided the following explanation of their ownership:
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In other news, major shareholder Magnolia Capital Fund, Lp purchased 73,747 shares of Nicholas Financial stock in a transaction that occurred on Tuesday, June 20th. The stock was bought at an average price of $8.05 per share, with a total value of $593,663.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 91,834 shares of company stock valued at $744,473 in the last three months. 3.60% of the stock is owned by insiders.
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.
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