RCI Hospitality (NASDAQ:RICK) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of RCI Hospitality (NASDAQ:RICK) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $98.00 price objective on the restaurant operator’s stock.

Separately, StockNews.com cut RCI Hospitality from a “buy” rating to a “hold” rating in a research note on Tuesday.

RCI Hospitality Price Performance

RICK stock opened at $56.89 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 0.80. RCI Hospitality has a 12 month low of $37.61 and a 12 month high of $68.26. The stock has a market cap of $511.84 million, a PE ratio of 109.41 and a beta of 1.60. The company has a 50-day moving average price of $48.49 and a 200 day moving average price of $45.83.

RCI Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, December 16th. RCI Hospitality’s payout ratio is presently 87.50%.

Institutional Investors Weigh In On RCI Hospitality

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Progeny 3 Inc. increased its position 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 worth $20,080,000 after acquiring an additional 87,832 shares during the period. DHK Financial Advisors Inc. bought a new stake in RCI Hospitality during the 2nd quarter valued at $1,699,000. Aptus Capital Advisors LLC lifted its holdings in shares of RCI Hospitality by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 51,663 shares of the restaurant operator’s stock worth $2,250,000 after buying an additional 10,275 shares during the period. Quest Partners LLC bought a new position in shares of RCI Hospitality during the 3rd quarter worth $29,000. Finally, Bank of New York Mellon Corp increased its stake in shares of RCI Hospitality by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 60,704 shares of the restaurant operator’s stock valued at $2,644,000 after buying an additional 4,126 shares during the period. 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.