HC Wainwright Reaffirms Buy Rating for RCI Hospitality (NASDAQ:RICK)

HC Wainwright reissued their buy rating on shares of RCI Hospitality (NASDAQ:RICK) in a research note issued to investors on Friday,Benzinga reports. They currently have a $98.00 price target on the restaurant operator’s stock.

Separately, StockNews.com cut shares of RCI Hospitality from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th.

RCI Hospitality Stock Down 4.2 %

NASDAQ RICK opened at $54.20 on Friday. RCI Hospitality has a 52 week low of $37.61 and a 52 week high of $63.76. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $482.38 million, a P/E ratio of 104.23 and a beta of 1.57. The stock’s 50-day moving average price is $52.92 and its 200-day moving average price is $47.24.

RCI Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.52%. RCI Hospitality’s dividend payout ratio is presently 87.50%.

Hedge Funds Weigh In On RCI Hospitality

A number of hedge funds have recently made changes to their positions in RICK. Progeny 3 Inc. lifted its holdings in RCI Hospitality by 23.5% in the 2nd 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 in the last quarter. Barclays PLC raised its position in shares of RCI Hospitality by 330.2% during the third quarter. Barclays PLC now owns 13,593 shares of the restaurant operator’s stock valued at $605,000 after buying an additional 10,433 shares during the last quarter. DHK Financial Advisors Inc. purchased a new position in shares of RCI Hospitality in the second quarter worth $1,699,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of RCI Hospitality by 20.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,507 shares of the restaurant operator’s stock worth $602,000 after acquiring an additional 2,252 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in RCI Hospitality during the third quarter valued at $29,000. Institutional investors 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.