Bank of New York Mellon Corp increased its stake in RCI Hospitality Holdings Inc (NASDAQ:RICK) by 18.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,829 shares of the restaurant operator’s stock after acquiring an additional 8,264 shares during the quarter. Bank of New York Mellon Corp owned about 0.55% of RCI Hospitality worth $1,703,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of RICK. Citigroup Inc. lifted its stake in shares of RCI Hospitality by 686.0% in the first quarter. Citigroup Inc. now owns 10,241 shares of the restaurant operator’s stock worth $290,000 after acquiring an additional 8,938 shares during the period. A.R.T. Advisors LLC bought a new stake in RCI Hospitality in the first quarter worth approximately $289,000. Millennium Management LLC increased its holdings in RCI Hospitality by 114.5% in the first quarter. Millennium Management LLC now owns 120,826 shares of the restaurant operator’s stock worth $3,430,000 after purchasing an additional 64,492 shares in the last quarter. Bessemer Group Inc. increased its holdings in RCI Hospitality by 31.3% in the second quarter. Bessemer Group Inc. now owns 13,000 shares of the restaurant operator’s stock worth $411,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in RCI Hospitality by 35.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,500 shares of the restaurant operator’s stock worth $617,000 after purchasing an additional 5,100 shares in the last quarter. 49.31% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on the company. ValuEngine downgraded RCI Hospitality from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. BidaskClub upgraded RCI Hospitality from a “strong sell” rating to a “sell” rating in a report on Tuesday. Westpark Capital set a $34.00 target price on RCI Hospitality and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Zacks Investment Research downgraded RCI Hospitality from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. RCI Hospitality presently has an average rating of “Hold” and a consensus price target of $36.00.
Shares of RICK stock opened at $27.33 on Friday. The company has a market capitalization of $287.75 million, a price-to-earnings ratio of 19.44 and a beta of 0.71. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 0.75. RCI Hospitality Holdings Inc has a fifty-two week low of $26.18 and a fifty-two week high of $34.84.
RCI Hospitality (NASDAQ:RICK) last issued its earnings results on Thursday, August 9th. The restaurant operator reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.05. The business had revenue of $42.63 million during the quarter, compared to the consensus estimate of $40.97 million. RCI Hospitality had a return on equity of 13.85% and a net margin of 13.48%. On average, research analysts anticipate that RCI Hospitality Holdings Inc will post 2.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Monday, September 10th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. RCI Hospitality’s dividend payout ratio is 8.39%.
RCI Hospitality Profile
RCI Hospitality Holdings, Inc, through its subsidiaries, engages in the hospitality and related businesses in the United States. It operates in two segments, Nightclubs and Bombshells. The company owns 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, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Temptations Adult Cabaret, Scarlett's Cabaret, Silver City Cabaret, Cabaret East, and The Seville brands.
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