RCI Hospitality Holdings Inc (NASDAQ:RICK) Short Interest Update

RCI Hospitality Holdings Inc (NASDAQ:RICK) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 549,400 shares, a drop of 27.5% from the December 15th total of 758,100 shares. Based on an average trading volume of 90,300 shares, the days-to-cover ratio is presently 6.1 days. Approximately 6.7% of the shares of the stock are sold short.

Analysts Set New Price Targets

RICK has been the subject of several research analyst reports. StockNews.com downgraded shares of RCI Hospitality from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $98.00 price target on shares of RCI Hospitality in a report on Friday, January 10th.

RCI Hospitality Price Performance

Shares of RICK stock traded down $0.10 on Wednesday, reaching $53.22. The company had a trading volume of 50,064 shares, compared to its average volume of 84,052. The business’s 50-day moving average is $53.47 and its 200 day moving average is $47.50. RCI Hospitality has a one year low of $37.61 and a one year high of $63.76. 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 $473.66 million, a PE ratio of 102.35 and a beta of 1.57.

RCI Hospitality Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 16th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, December 16th. RCI Hospitality’s payout ratio is 87.50%.

Institutional Trading of RCI Hospitality

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of RCI Hospitality by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 60,704 shares of the restaurant operator’s stock valued at $2,644,000 after acquiring an additional 4,126 shares in the last quarter. Rhumbline Advisers increased its holdings in RCI Hospitality by 12.9% in the 2nd quarter. Rhumbline Advisers now owns 12,994 shares of the restaurant operator’s stock worth $566,000 after purchasing an additional 1,481 shares in the last quarter. Victory Capital Management Inc. bought a new position in RCI Hospitality in the second quarter valued at about $76,000. American Century Companies Inc. boosted its stake in shares of RCI Hospitality by 14.7% during the second quarter. American Century Companies Inc. now owns 48,237 shares of the restaurant operator’s stock valued at $2,101,000 after purchasing an additional 6,174 shares in the last quarter. Finally, DHK Financial Advisors Inc. bought a new stake in shares of RCI Hospitality during the second quarter worth about $1,699,000. Institutional investors and hedge funds 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.