RCI Hospitality (NASDAQ:RICK) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of RCI Hospitality Holdings Inc (NASDAQ:RICK) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.24 and traded as high as $52.47. RCI Hospitality shares last traded at $50.20, with a volume of 113,196 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RICK. StockNews.com upgraded RCI Hospitality from a “hold” rating to a “buy” rating in a report on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $98.00 price objective on shares of RCI Hospitality in a research note on Wednesday, November 6th.

RCI Hospitality Trading Down 1.4 %

The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $444.99 million, a P/E ratio of 96.44 and a beta of 1.56. The company has a fifty day simple moving average of $44.48 and a two-hundred day simple moving average of $45.28.

RCI Hospitality Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.07 dividend. This is a boost from RCI Hospitality’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.57%. The ex-dividend date was Monday, September 16th. RCI Hospitality’s payout ratio is currently 53.85%.

Hedge Funds Weigh In On RCI Hospitality

Several hedge funds have recently modified their holdings of RICK. State Street Corp raised its stake in shares of RCI Hospitality by 1.0% during the 3rd quarter. State Street Corp now owns 196,913 shares of the restaurant operator’s stock worth $8,772,000 after purchasing an additional 2,023 shares in the last quarter. Point72 Asset Management L.P. raised its stake in RCI Hospitality by 146.4% in the third quarter. Point72 Asset Management L.P. now owns 4,961 shares of the restaurant operator’s stock valued at $221,000 after buying an additional 2,948 shares during the period. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of RCI Hospitality by 254.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator’s stock valued at $31,000 after buying an additional 498 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in RCI Hospitality by 20.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,507 shares of the restaurant operator’s stock worth $602,000 after purchasing an additional 2,252 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of RCI Hospitality by 47.4% in the third quarter. BNP Paribas Financial Markets now owns 3,921 shares of the restaurant operator’s stock valued at $175,000 after purchasing an additional 1,260 shares during the period. Institutional investors own 53.82% of the company’s stock.

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’s wholly-owned subsidiaries own 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.