RCI Hospitality Holdings Inc (NASDAQ:RICK) Shares Bought by Progeny 3 Inc.

Progeny 3 Inc. lifted its stake in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK) by 23.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 460,968 shares of the restaurant operator’s stock after buying an additional 87,832 shares during the quarter. RCI Hospitality makes up approximately 1.9% of Progeny 3 Inc.’s portfolio, making the stock its 20th biggest position. Progeny 3 Inc. owned 5.12% of RCI Hospitality worth $20,080,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RICK. Victory Capital Management Inc. purchased a new stake in shares of RCI Hospitality during the 2nd quarter worth $76,000. EntryPoint Capital LLC lifted its holdings in RCI Hospitality by 246.3% during the 1st quarter. EntryPoint Capital LLC now owns 3,958 shares of the restaurant operator’s stock worth $230,000 after buying an additional 2,815 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of RCI Hospitality during the 2nd quarter worth about $177,000. Price T Rowe Associates Inc. MD raised its position in shares of RCI Hospitality by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,204 shares of the restaurant operator’s stock worth $360,000 after acquiring an additional 371 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in RCI Hospitality by 41.1% during the 4th quarter. Annex Advisory Services LLC now owns 6,520 shares of the restaurant operator’s stock worth $432,000 after buying an additional 1,898 shares during the last quarter. Hedge funds and other institutional investors own 53.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RICK shares. StockNews.com cut shares of RCI Hospitality from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. HC Wainwright restated a “buy” rating and issued a $98.00 price objective on shares of RCI Hospitality in a research note on Tuesday, September 17th.

RCI Hospitality Trading Down 0.9 %

Shares of RICK stock opened at $45.21 on Tuesday. The company has a market capitalization of $421.58 million, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 5.37 and a beta of 1.56. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $45.47 and its two-hundred day moving average is $47.63. RCI Hospitality Holdings Inc has a twelve month low of $37.61 and a twelve month high of $69.40.

RCI Hospitality (NASDAQ:RICK) last issued its earnings results on Thursday, August 8th. The restaurant operator reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($1.27). RCI Hospitality had a net margin of 1.67% and a return on equity of 1.76%. The firm had revenue of $76.18 million during the quarter, compared to analysts’ expectations of $72.79 million. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that RCI Hospitality Holdings Inc will post 0.69 EPS for the current year.

RCI Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from RCI Hospitality’s previous quarterly dividend of $0.06. RCI Hospitality’s dividend payout ratio (DPR) is currently 13.73%.

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.