RCI Hospitality’s (RICK) “Buy” Rating Reaffirmed at HC Wainwright

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

Separately, StockNews.com lowered shares of RCI Hospitality from a “buy” rating to a “hold” rating in a report on Tuesday.

RCI Hospitality Stock Down 2.0 %

Shares of RCI Hospitality stock opened at $56.89 on Wednesday. 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 cap of $511.84 million, a P/E ratio of 109.41 and a beta of 1.60. The firm’s 50 day moving average price is $48.49 and its 200-day moving average price is $45.83. RCI Hospitality has a 52-week low of $37.61 and a 52-week high of $68.26.

RCI Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.07 per share. 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 currently 87.50%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RICK. Progeny 3 Inc. grew its holdings in shares of RCI Hospitality by 23.5% during the second quarter. Progeny 3 Inc. now owns 460,968 shares of the restaurant operator’s stock valued at $20,080,000 after buying an additional 87,832 shares during the last quarter. State Street Corp lifted its position in RCI Hospitality by 1.0% during the 3rd quarter. State Street Corp now owns 196,913 shares of the restaurant operator’s stock worth $8,772,000 after acquiring an additional 2,023 shares during the period. Bank of New York Mellon Corp grew its stake in RCI Hospitality by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 60,704 shares of the restaurant operator’s stock valued at $2,644,000 after purchasing an additional 4,126 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of RCI Hospitality by 24.8% in the second quarter. Aptus Capital Advisors LLC now owns 51,663 shares of the restaurant operator’s stock valued at $2,250,000 after purchasing an additional 10,275 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of RCI Hospitality by 14.7% during the second quarter. American Century Companies Inc. now owns 48,237 shares of the restaurant operator’s stock worth $2,101,000 after purchasing an additional 6,174 shares during the period. Hedge funds and other institutional investors 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.