StockNews.com Downgrades RCI Hospitality (NASDAQ:RICK) to Hold

StockNews.com cut shares of RCI Hospitality (NASDAQ:RICK) from a buy rating to a hold rating in a research note issued to investors on Tuesday.

Separately, HC Wainwright reiterated a “buy” rating and set a $98.00 target price on shares of RCI Hospitality in a research note on Wednesday, November 6th.

RCI Hospitality Stock Up 0.1 %

Shares of RICK opened at $56.92 on Tuesday. The firm’s 50-day simple moving average is $48.80 and its 200 day simple moving average is $45.91. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market cap of $512.11 million, a P/E ratio of 109.46 and a beta of 1.60. RCI Hospitality has a 52 week low of $37.61 and a 52 week high of $68.26.

RCI Hospitality Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.49%. RCI Hospitality’s dividend payout ratio (DPR) is presently 87.50%.

Institutional Trading of RCI Hospitality

Hedge funds and other institutional investors have recently bought and sold shares of the business. Progeny 3 Inc. lifted its position in RCI Hospitality by 23.5% during the second quarter. Progeny 3 Inc. now owns 460,968 shares of the restaurant operator’s stock worth $20,080,000 after purchasing an additional 87,832 shares during the period. DHK Financial Advisors Inc. bought a new position in RCI Hospitality during the 2nd quarter worth $1,699,000. Aptus Capital Advisors LLC lifted its holdings in RCI Hospitality by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 51,663 shares of the restaurant operator’s stock worth $2,250,000 after buying an additional 10,275 shares during the period. Quest Partners LLC bought a new stake in shares of RCI Hospitality in the 3rd quarter valued at about $29,000. Finally, Bank of New York Mellon Corp increased its stake in shares of RCI Hospitality by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 60,704 shares of the restaurant operator’s stock valued at $2,644,000 after buying an additional 4,126 shares during the period. Institutional investors and hedge funds own 53.82% of the company’s stock.

About RCI Hospitality

RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in Nightclubs, Bombshells, and Media Group segments. The company’s wholly-owned subsidiaries own and/or operates upscale adult nightclubs serving primarily businessmen and professionals under the Rick's Cabaret, Jaguars Club, Tootsie's Cabaret, XTC Cabaret, Club Onyx, Hoops Cabaret and Sports Bar, Scarlett's Cabaret, Temptations Adult Cabaret, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Cabaret East, The Seville, Silver City Cabaret, and Kappa Men's Club.