RCI Hospitality (NASDAQ:RICK) Shares Break Below Fifty Day Moving Average – Here’s What Happened

RCI Hospitality Holdings, Inc. (NASDAQ:RICK)’s stock price crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $27.68 and traded as low as $26.96. RCI Hospitality shares last traded at $27.31, with a volume of 90,590 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of RCI Hospitality in a research note on Monday, August 31st. Wall Street Zen upgraded shares of RCI Hospitality from a “hold” rating to a “buy” rating in a research note on Sunday, September 6th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, RCI Hospitality currently has an average rating of “Sell”.

RCI Hospitality Stock Performance

The firm has a market capitalization of $208.76 million, a PE ratio of -66.61 and a beta of 0.86. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.56 and a quick ratio of 0.48. The stock has a 50-day moving average price of $27.68 and a 200-day moving average price of $25.93.

RCI Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, September 15th. RCI Hospitality’s dividend payout ratio (DPR) is -78.05%.

Institutional Investors Weigh In On RCI Hospitality

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of RCI Hospitality in the 2nd quarter valued at approximately $16,785,000. Bank of New York Mellon Corp acquired a new stake in shares of RCI Hospitality during the second quarter worth approximately $2,239,000. JB Capital Partners LP bought a new stake in shares of RCI Hospitality in the second quarter worth $1,639,200. Quantinno Capital Management LP increased its stake in shares of RCI Hospitality by 320.1% in the first quarter. Quantinno Capital Management LP now owns 45,311 shares of the restaurant operator’s stock worth $1,034,000 after buying an additional 34,525 shares during the last quarter. Finally, PDT Partners LLC acquired a new stake in RCI Hospitality in the second quarter valued at $1,184,000. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc. is a hospitality and entertainment company that operates adult nightclubs, sports bars and restaurants in the United States. The company serves customers through a portfolio of adult-entertainment venues, including Rick’s Cabaret, Club Onyx, Tootsie’s Cabaret, Jaguars and other regional brands. RCI also operates Bombshells Restaurant & Bar, a sports-themed restaurant and bar concept offering food, beverages and televised sports in a casual setting. In addition to operating venues, the company has pursued a strategy of owning the real estate associated with certain locations, supporting its hospitality operations with a property portfolio.