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

StockNews.com upgraded shares of RCI Hospitality (NASDAQ:RICK) from a hold rating to a buy rating in a report published on Wednesday.

Separately, HC Wainwright restated a “buy” rating and issued a $98.00 price objective 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 company 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 52 week low of $37.61 and a 52 week high of $61.66. The stock’s 50-day moving average price is $54.84 and its 200-day moving average price is $48.92. The company has a quick ratio of 0.89, a current ratio of 0.98 and a debt-to-equity ratio of 0.83.

RCI Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 16th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, December 16th. RCI Hospitality’s payout ratio is currently 87.50%.

Hedge Funds Weigh In On RCI Hospitality

Several institutional investors and hedge funds have recently modified their holdings of RICK. Charles Schwab Investment Management Inc. grew its holdings in RCI Hospitality by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 68,070 shares of the restaurant operator’s stock valued at $3,912,000 after purchasing an additional 363 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of RCI Hospitality by 254.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 498 shares in the last quarter. Quest Partners LLC acquired a new stake in RCI Hospitality in the 3rd quarter valued at $29,000. AlphaQuest LLC increased its holdings in RCI Hospitality by 107.4% in the 4th quarter. AlphaQuest LLC now owns 1,338 shares of the restaurant operator’s stock worth $77,000 after acquiring an additional 693 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in RCI Hospitality during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.

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.