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

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

Separately, HC Wainwright restated 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 Performance

Shares of RICK opened at $58.04 on Tuesday. RCI Hospitality has a 52 week low of $37.61 and a 52 week high of $68.26. 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 stock has a market cap of $522.19 million, a price-to-earnings ratio of 181.38 and a beta of 1.60. The business has a 50-day simple moving average of $48.19 and a two-hundred day simple moving average of $45.76.

RCI Hospitality Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, December 16th. RCI Hospitality’s dividend payout ratio is 87.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC purchased a new position in RCI Hospitality in the 3rd quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. increased its stake in shares of RCI Hospitality by 254.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 498 shares during the period. Copeland Capital Management LLC bought a new stake in shares of RCI Hospitality in the third quarter valued at about $54,000. Victory Capital Management Inc. purchased a new stake in RCI Hospitality in the second quarter worth about $76,000. Finally, FMR LLC increased its position in RCI Hospitality by 132.6% during the 3rd quarter. FMR LLC now owns 1,800 shares of the restaurant operator’s stock valued at $80,000 after purchasing an additional 1,026 shares during the period. 53.82% of the stock is owned by hedge funds and other institutional investors.

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.