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

StockNews.com cut shares of RCI Hospitality (NASDAQ:RICK) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other equities analysts have also commented on RICK. TheStreet lowered shares of RCI Hospitality from a b- rating to a c+ rating in a research note on Tuesday, March 5th. HC Wainwright reiterated a buy rating and set a $115.00 price target on shares of RCI Hospitality in a report on Monday, February 12th.

RCI Hospitality Trading Up 3.2 %

Shares of NASDAQ RICK opened at $51.64 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 0.75. RCI Hospitality has a 12 month low of $49.37 and a 12 month high of $79.46. The company has a market cap of $483.35 million, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.09 and a beta of 1.65. The business has a fifty day simple moving average of $55.20 and a 200-day simple moving average of $58.11.

RCI Hospitality (NASDAQ:RICK) last posted its quarterly earnings data on Thursday, February 8th. The restaurant operator reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). The firm had revenue of $73.90 million for the quarter, compared to analysts’ expectations of $73.30 million. RCI Hospitality had a net margin of 8.81% and a return on equity of 10.67%. RCI Hospitality’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 earnings per share. Sell-side analysts predict that RCI Hospitality will post 3.84 EPS for the current year.

RCI Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Thursday, March 14th. RCI Hospitality’s payout ratio is presently 8.60%.

Insiders Place Their Bets

In other news, CEO Eric Scott Langan purchased 1,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average price of $54.54 per share, with a total value of $54,540.00. Following the purchase, the chief executive officer now owns 703,000 shares in the company, valued at approximately $38,341,620. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.34% of the company’s stock.

Institutional Investors Weigh In On RCI Hospitality

Several institutional investors and hedge funds have recently modified their holdings of RICK. Northwestern Mutual Wealth Management Co. bought a new position in RCI Hospitality during the fourth quarter valued at about $28,000. Point72 Hong Kong Ltd bought a new position in shares of RCI Hospitality in the 1st quarter valued at approximately $27,000. Cannell Capital LLC acquired a new stake in RCI Hospitality in the 1st quarter worth approximately $28,000. Belpointe Asset Management LLC bought a new stake in RCI Hospitality during the first quarter worth approximately $39,000. Finally, Tower Research Capital LLC TRC boosted its position in RCI Hospitality by 112.9% during the third quarter. Tower Research Capital LLC TRC now owns 528 shares of the restaurant operator’s stock worth $34,000 after purchasing an additional 280 shares during the period. 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.