RCI Hospitality (NASDAQ:RICK) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of RCI Hospitality (NASDAQ:RICK) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

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. “

Separately, ValuEngine lowered Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th.

Shares of RICK stock opened at $14.65 on Wednesday. The company has a fifty day moving average of $16.95. The company has a current ratio of 0.86, a quick ratio of 0.77 and a debt-to-equity ratio of 0.87. The firm has a market cap of $163.09 million, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 0.36 and a beta of 1.11. RCI Hospitality has a one year low of $12.50 and a one year high of $34.84.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Monday, June 10th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, June 7th. RCI Hospitality’s dividend payout ratio is 5.50%.

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in RCI Hospitality by 50.6% in the fourth quarter. Bank of America Corp DE now owns 7,705 shares of the restaurant operator’s stock worth $172,000 after purchasing an additional 2,588 shares in the last quarter. Globeflex Capital L P acquired a new position in RCI Hospitality in the fourth quarter worth $204,000. Rhumbline Advisers boosted its stake in RCI Hospitality by 49.3% in the fourth quarter. Rhumbline Advisers now owns 11,932 shares of the restaurant operator’s stock worth $266,000 after purchasing an additional 3,939 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in RCI Hospitality in the fourth quarter worth $283,000. Finally, First Trust Advisors LP boosted its stake in RCI Hospitality by 18.7% in the fourth quarter. First Trust Advisors LP now owns 16,291 shares of the restaurant operator’s stock worth $364,000 after purchasing an additional 2,563 shares in the last quarter. 47.85% of the stock is currently owned by institutional investors and hedge funds.

About RCI Hospitality

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.

See Also: Return on Equity (ROE)

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