SummerHaven Investment Management LLC Takes $639,000 Position in RCI Hospitality Holdings, Inc. $RICK

SummerHaven Investment Management LLC bought a new position in shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 20,941 shares of the restaurant operator’s stock, valued at approximately $639,000. SummerHaven Investment Management LLC owned 0.24% of RCI Hospitality at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RICK. CWM LLC lifted its holdings in shares of RCI Hospitality by 1,256.9% during the third quarter. CWM LLC now owns 1,954 shares of the restaurant operator’s stock worth $60,000 after purchasing an additional 1,810 shares during the period. TT Capital Management LLC bought a new position in RCI Hospitality during the 2nd quarter worth $766,000. BNP Paribas Financial Markets lifted its holdings in RCI Hospitality by 62.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator’s stock worth $32,000 after buying an additional 324 shares during the period. Marshall Wace LLP grew its position in shares of RCI Hospitality by 324.7% in the 2nd quarter. Marshall Wace LLP now owns 23,087 shares of the restaurant operator’s stock valued at $880,000 after buying an additional 17,651 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of RCI Hospitality by 4.5% in the second quarter. Invesco Ltd. now owns 12,523 shares of the restaurant operator’s stock valued at $477,000 after buying an additional 536 shares during the period. 53.82% of the stock is currently owned by institutional investors and hedge funds.

RCI Hospitality Stock Performance

Shares of RCI Hospitality stock opened at $24.12 on Thursday. The business has a 50-day moving average price of $24.70 and a two-hundred day moving average price of $29.31. RCI Hospitality Holdings, Inc. has a 1-year low of $21.88 and a 1-year high of $57.71. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 0.83. The company has a market cap of $210.33 million, a P/E ratio of 12.97 and a beta of 0.90.

RCI Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, December 15th. RCI Hospitality’s dividend payout ratio is presently 15.05%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of RCI Hospitality in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $98.00.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc operates as a diversified hospitality and entertainment company focused on the ownership and operation of adult nightclubs and themed sports bars throughout the United States and select international markets. The company’s U.S. Nightclub segment includes venues branded as Rick’s Cabaret, Club Onyx and various other upscale adult entertainment clubs, offering private dance experiences, VIP services and live performances. Its Restaurant & Bar segment operates Bombshells, a brunch-themed sports bar chain featuring chef-driven menus, craft cocktails and game-day viewing in a military-inspired setting.

In addition to its brick-and-mortar venues, RCI Hospitality deploys proprietary digital platforms for talent recruitment, training and scheduling, helping to streamline operations and drive customer engagement.