RCI Hospitality (RICK) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of RCI Hospitality (NASDAQ:RICK) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “RCI Hospitality Holdings, Inc. owns and/or operates adult nightclubs that offer live adult entertainment, restaurant, and bar services. It operates adult nightclubs under the name Rick’s Cabaret, Club Onyx, XTC Cabaret, Tootsie’s Cabaret, Cabaret North, Jaguars and Cabaret East. The Company also owns and operates adult Internet Websites. RCI Hospitality Holdings, Inc., formerly known as Rick’s Cabaret International, Inc., is based in Houston, Texas. “

Several other equities analysts have also commented on RICK. ValuEngine lowered RCI Hospitality from a buy rating to a hold rating in a research note on Friday, December 1st. Westpark Capital reissued a buy rating and set a $30.00 target price on shares of RCI Hospitality in a research note on Wednesday, October 11th.

Shares of RCI Hospitality (NASDAQ:RICK) traded down $0.13 during trading on Tuesday, hitting $31.14. The stock had a trading volume of 76,200 shares, compared to its average volume of 69,345. RCI Hospitality has a twelve month low of $13.29 and a twelve month high of $33.78. The firm has a market cap of $303.91, a price-to-earnings ratio of 20.85 and a beta of 0.33. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 0.79.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Monday, December 11th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.39%. The ex-dividend date is Friday, December 8th. RCI Hospitality’s payout ratio is 10.62%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC acquired a new position in RCI Hospitality during the 2nd quarter worth about $566,000. OxFORD Asset Management LLP acquired a new position in RCI Hospitality during the 2nd quarter worth about $370,000. Renaissance Technologies LLC lifted its stake in RCI Hospitality by 4.2% during the 2nd quarter. Renaissance Technologies LLC now owns 616,700 shares of the restaurant operator’s stock worth $14,702,000 after acquiring an additional 24,700 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in RCI Hospitality by 15.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 35,594 shares of the restaurant operator’s stock worth $849,000 after acquiring an additional 4,806 shares in the last quarter. Finally, LSV Asset Management lifted its stake in RCI Hospitality by 4.8% during the 2nd quarter. LSV Asset Management now owns 339,123 shares of the restaurant operator’s stock worth $8,084,000 after acquiring an additional 15,500 shares in the last quarter. 48.73% of the stock is currently owned by hedge funds and other institutional investors.

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About RCI Hospitality

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