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

RCI Hospitality (NASDAQ:RICK) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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

RCI Hospitality Trading Up 11.3 %

RICK traded up $5.91 during midday trading on Tuesday, hitting $58.04. 515,729 shares of the company were exchanged, compared to its average volume of 79,638. The firm’s 50 day moving average price is $48.19 and its 200-day moving average price is $45.76. RCI Hospitality has a 1-year low of $37.61 and a 1-year high of $68.26. The firm has a market capitalization of $522.19 million, a P/E ratio of 181.38 and a beta of 1.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80.

Institutional Investors Weigh In On RCI Hospitality

Several large investors have recently added to or reduced their stakes in RICK. Quest Partners LLC acquired a new position in RCI Hospitality in the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of RCI Hospitality by 254.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 498 shares during the period. Copeland Capital Management LLC acquired a new position in shares of RCI Hospitality during the 3rd quarter valued at $54,000. Victory Capital Management Inc. bought a new position in RCI Hospitality during the second quarter worth $76,000. Finally, FMR LLC grew its holdings in RCI Hospitality by 132.6% in the third quarter. FMR LLC now owns 1,800 shares of the restaurant operator’s stock worth $80,000 after purchasing an additional 1,026 shares during the period. Institutional investors and hedge funds own 53.82% of the company’s stock.

RCI Hospitality Company Profile

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.