RCI Hospitality (NASDAQ:RICK) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of RCI Hospitality (NASDAQ:RICK) from a hold rating to a buy rating in a report published on Wednesday.

Separately, HC Wainwright restated a “buy” rating and set a $98.00 price objective on shares of RCI Hospitality in a research note on Wednesday.

RCI Hospitality Price Performance

RICK stock opened at $52.15 on Wednesday. The stock has a 50-day moving average price of $54.85 and a two-hundred day moving average price of $48.96. RCI Hospitality has a 12-month low of $37.61 and a 12-month high of $61.66. The company has a current ratio of 0.98, a quick ratio of 0.89 and a debt-to-equity ratio of 0.83. The company has a market cap of $464.14 million, a PE ratio of 162.97 and a beta of 1.55.

RCI Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Monday, December 16th. RCI Hospitality’s dividend payout ratio is presently 87.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RICK. Arrowstreet Capital Limited Partnership lifted its stake in shares of RCI Hospitality by 1,839.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 155,525 shares of the restaurant operator’s stock worth $8,938,000 after acquiring an additional 147,508 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of RCI Hospitality by 63.7% in the fourth quarter. American Century Companies Inc. now owns 104,930 shares of the restaurant operator’s stock worth $6,030,000 after acquiring an additional 40,822 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of RCI Hospitality in the fourth quarter worth about $1,498,000. Bank of New York Mellon Corp lifted its stake in shares of RCI Hospitality by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 65,654 shares of the restaurant operator’s stock worth $3,773,000 after acquiring an additional 14,919 shares in the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of RCI Hospitality in the fourth quarter worth about $771,000. 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.