TIAA CREF Investment Management LLC increased its position in RCI Hospitality Holdings Inc (NASDAQ:RICK) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,845 shares of the restaurant operator’s stock after buying an additional 457 shares during the quarter. TIAA CREF Investment Management LLC owned 0.37% of RCI Hospitality worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in RICK. BlackRock Inc. boosted its holdings in RCI Hospitality by 11.4% in the second quarter. BlackRock Inc. now owns 468,991 shares of the restaurant operator’s stock valued at $14,842,000 after acquiring an additional 47,846 shares during the last quarter. Marshall Wace LLP bought a new stake in RCI Hospitality in the third quarter valued at approximately $1,274,000. Vanguard Group Inc boosted its holdings in RCI Hospitality by 4.8% in the third quarter. Vanguard Group Inc now owns 466,172 shares of the restaurant operator’s stock valued at $13,804,000 after acquiring an additional 21,538 shares during the last quarter. Vanguard Group Inc. boosted its holdings in RCI Hospitality by 4.8% in the third quarter. Vanguard Group Inc. now owns 466,172 shares of the restaurant operator’s stock valued at $13,804,000 after acquiring an additional 21,538 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its holdings in RCI Hospitality by 19.9% in the third quarter. Cadence Capital Management LLC now owns 73,983 shares of the restaurant operator’s stock valued at $2,191,000 after acquiring an additional 12,288 shares during the last quarter. 48.26% of the stock is owned by institutional investors.
RICK has been the topic of several analyst reports. Westpark Capital set a $34.00 target price on RCI Hospitality and gave the company a “buy” rating in a report on Wednesday, October 17th. Zacks Investment Research cut RCI Hospitality from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. ValuEngine upgraded RCI Hospitality from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. Finally, BidaskClub cut RCI Hospitality from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Three analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $36.00.
Shares of NASDAQ:RICK traded up $0.11 during trading on Monday, reaching $22.78. 50 shares of the stock were exchanged, compared to its average volume of 41,746. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.79. RCI Hospitality Holdings Inc has a 1-year low of $18.50 and a 1-year high of $34.84. The firm has a market capitalization of $221.26 million, a price-to-earnings ratio of 10.31 and a beta of 0.86.
RCI Hospitality (NASDAQ:RICK) last issued its earnings results on Monday, December 31st. The restaurant operator reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $40.68 million for the quarter, compared to analyst estimates of $40.96 million. RCI Hospitality had a return on equity of 13.75% and a net margin of 13.10%. Equities research analysts anticipate that RCI Hospitality Holdings Inc will post 2.35 earnings per share for the current fiscal year.
RCI Hospitality announced that its board has approved a share repurchase plan on Thursday, January 3rd that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 4.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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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 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, 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.
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