StockNews.com Upgrades RCI Hospitality (NASDAQ:RICK) to “Buy”

StockNews.com upgraded shares of RCI Hospitality (NASDAQ:RICK) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

Separately, HC Wainwright reiterated a “buy” rating and issued a $98.00 target price on shares of RCI Hospitality in a research report on Wednesday.

RCI Hospitality Stock Down 1.8 %

Shares of RICK opened at $50.41 on Wednesday. The stock has a 50 day moving average price of $54.84 and a 200 day moving average price of $48.92. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.89 and a current ratio of 0.98. The stock has a market capitalization of $448.65 million, a price-to-earnings ratio of 157.54 and a beta of 1.55. RCI Hospitality has a one year low of $37.61 and a one year high of $61.66.

RCI Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were given a $0.07 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.56%. RCI Hospitality’s dividend payout ratio (DPR) is presently 87.50%.

Hedge Funds Weigh In On RCI Hospitality

A number of institutional investors have recently added to or reduced their stakes in RICK. Barclays PLC increased its stake in shares of RCI Hospitality by 330.2% in the 3rd quarter. Barclays PLC now owns 13,593 shares of the restaurant operator’s stock worth $605,000 after acquiring an additional 10,433 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in RCI Hospitality by 20.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,507 shares of the restaurant operator’s stock worth $602,000 after purchasing an additional 2,252 shares during the last quarter. Quest Partners LLC acquired a new stake in RCI Hospitality during the third quarter worth about $29,000. Point72 Asset Management L.P. raised its stake in RCI Hospitality by 146.4% during the third quarter. Point72 Asset Management L.P. now owns 4,961 shares of the restaurant operator’s stock worth $221,000 after purchasing an additional 2,948 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in RCI Hospitality by 47.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,921 shares of the restaurant operator’s stock valued at $175,000 after purchasing an additional 1,260 shares during the last quarter. Hedge funds and other 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.