RCI Hospitality (NASDAQ:RICK) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

RCI Hospitality Holdings, Inc. (NASDAQ:RICK)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.48 and traded as high as $26.35. RCI Hospitality shares last traded at $25.99, with a volume of 34,852 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of RCI Hospitality in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

RCI Hospitality Stock Performance

The business has a fifty day simple moving average of $25.83 and a two-hundred day simple moving average of $24.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.55 and a quick ratio of 0.49. The company has a market cap of $204.14 million, a PE ratio of -34.26 and a beta of 0.75.

RCI Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, June 15th. RCI Hospitality’s dividend payout ratio is -41.03%.

Hedge Funds Weigh In On RCI Hospitality

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its holdings in RCI Hospitality by 62.0% in the second quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 324 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of RCI Hospitality in the 4th quarter worth approximately $54,000. State of Wyoming bought a new position in shares of RCI Hospitality during the 4th quarter worth approximately $67,000. Copeland Capital Management LLC raised its position in shares of RCI Hospitality by 122.0% in the 1st quarter. Copeland Capital Management LLC now owns 3,305 shares of the restaurant operator’s stock valued at $75,000 after purchasing an additional 1,816 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in RCI Hospitality in the 3rd quarter worth approximately $115,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc operates as a diversified hospitality and entertainment company focused on the ownership and operation of adult nightclubs and themed sports bars throughout the United States and select international markets. The company’s U.S. Nightclub segment includes venues branded as Rick’s Cabaret, Club Onyx and various other upscale adult entertainment clubs, offering private dance experiences, VIP services and live performances. Its Restaurant & Bar segment operates Bombshells, a brunch-themed sports bar chain featuring chef-driven menus, craft cocktails and game-day viewing in a military-inspired setting.

In addition to its brick-and-mortar venues, RCI Hospitality deploys proprietary digital platforms for talent recruitment, training and scheduling, helping to streamline operations and drive customer engagement.