RCI Hospitality (NASDAQ:RICK) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $27.68 and traded as low as $26.96. RCI Hospitality shares last traded at $27.31, with a volume of 90,590 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on RICK shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of RCI Hospitality in a research report on Monday, August 31st. Wall Street Zen raised RCI Hospitality from a “hold” rating to a “buy” rating in a report on Sunday, September 6th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

RCI Hospitality Price Performance

The firm has a 50-day simple moving average of $27.61 and a 200-day simple moving average of $25.96. The firm has a market capitalization of $209.34 million, a PE ratio of -66.83 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.56 and a quick ratio of 0.48.

RCI Hospitality Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. RCI Hospitality’s dividend payout ratio (DPR) is presently -78.05%.

Institutional Trading of RCI Hospitality

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of RCI Hospitality by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 81,247 shares of the restaurant operator’s stock worth $1,853,000 after purchasing an additional 1,488 shares in the last quarter. Copeland Capital Management LLC raised its holdings in RCI Hospitality by 122.0% in the 1st quarter. Copeland Capital Management LLC now owns 3,305 shares of the restaurant operator’s stock worth $75,000 after purchasing an additional 1,816 shares during the period. State of Wyoming bought a new position in RCI Hospitality in the 2nd quarter worth $79,000. R Squared Ltd raised its holdings in RCI Hospitality by 66.3% in the 3rd quarter. R Squared Ltd now owns 15,594 shares of the restaurant operator’s stock worth $421,000 after purchasing an additional 6,215 shares during the period. Finally, Deutsche Bank AG purchased a new position in RCI Hospitality during the second quarter valued at $180,000. 53.82% of the stock is currently owned by institutional investors.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc. operates adult entertainment venues and restaurants in the United States. Its adult nightclub business includes venues under brands such as Rick’s Cabaret, XTC and Club Onyx, offering entertainment, dining and beverage services. The company also operates Bombshells Restaurant & Bar, a sports-bar and restaurant concept. Its businesses serve customers in multiple U.S. markets. RCI traces its roots to Rick’s Cabaret, which opened in Houston in 1983. Eric Langan serves as the company’s president and chief executive officer.