RCI Hospitality Holdings Inc (NASDAQ:RICK) Sees Significant Decline in Short Interest

RCI Hospitality Holdings Inc (NASDAQ:RICK) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 469,900 shares, a decline of 18.6% from the March 15th total of 577,100 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average trading volume of 69,500 shares, the days-to-cover ratio is presently 6.8 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RICK. HC Wainwright reaffirmed a “buy” rating and issued a $98.00 price objective on shares of RCI Hospitality in a report on Wednesday, April 9th. StockNews.com upgraded shares of RCI Hospitality from a “hold” rating to a “buy” rating in a research note on Wednesday, February 12th.

RCI Hospitality Stock Up 1.9 %

Shares of RCI Hospitality stock opened at $37.51 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.92. RCI Hospitality has a 1-year low of $35.00 and a 1-year high of $61.66. The business’s fifty day moving average price is $45.12 and its two-hundred day moving average price is $48.95. The company has a market capitalization of $332.60 million, a P/E ratio of 66.98 and a beta of 1.45.

RCI Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.75%. The ex-dividend date was Monday, March 17th. RCI Hospitality’s payout ratio is currently 50.00%.

Hedge Funds Weigh In On RCI Hospitality

A number of institutional investors and hedge funds have recently bought and sold shares of RICK. FMR LLC lifted its stake in shares of RCI Hospitality by 132.6% in the 3rd quarter. FMR LLC now owns 1,800 shares of the restaurant operator’s stock worth $80,000 after acquiring an additional 1,026 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 in the last quarter. State Street Corp lifted its position in RCI Hospitality by 1.0% in the third 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 during the period. Barclays PLC boosted its stake in RCI Hospitality by 330.2% during the 3rd quarter. Barclays PLC now owns 13,593 shares of the restaurant operator’s stock valued at $605,000 after purchasing an additional 10,433 shares in the last quarter. Finally, Brighton Jones LLC acquired a new position in shares of RCI Hospitality during the 4th quarter valued at $211,000. Institutional investors own 53.82% of the company’s stock.

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’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.