Short Interest in RCI Hospitality Holdings Inc (NASDAQ:RICK) Declines By 18.6%

RCI Hospitality Holdings Inc (NASDAQ:RICK - Get Free Report) was the target of a significant decline in short interest in 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. Approximately 5.8% of the shares of the stock are short sold. Based on an average daily volume of 69,500 shares, the days-to-cover ratio is presently 6.8 days.

Analysts Set New Price Targets

RICK has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and set a $98.00 price objective on shares of RCI Hospitality in a research note on Wednesday, April 9th. StockNews.com upgraded shares of RCI Hospitality from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th.

RCI Hospitality Price Performance

Shares of RCI Hospitality stock traded up $0.14 during trading on Wednesday, reaching $39.51. 44,401 shares of the company's stock were exchanged, compared to its average volume of 86,360. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.92 and a current ratio of 1.02. RCI Hospitality has a 1-year low of $35.00 and a 1-year high of $61.66. The company has a market cap of $350.34 million, a P/E ratio of 70.55 and a beta of 1.45. The firm's 50-day moving average price is $44.38 and its 200 day moving average price is $48.84.

RCI Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Monday, March 17th. RCI Hospitality's dividend payout ratio is 50.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Barclays PLC raised its holdings in RCI Hospitality by 330.2% in the 3rd quarter. Barclays PLC now owns 13,593 shares of the restaurant operator's stock valued at $605,000 after buying an additional 10,433 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of RCI Hospitality by 1,839.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 155,525 shares of the restaurant operator's stock worth $8,938,000 after acquiring an additional 147,508 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of RCI Hospitality by 233.4% during the 4th quarter. Victory Capital Management Inc. now owns 5,784 shares of the restaurant operator's stock worth $332,000 after buying an additional 4,049 shares during the period. American Century Companies Inc. raised its holdings in shares of RCI Hospitality by 63.7% during the fourth quarter. American Century Companies Inc. now owns 104,930 shares of the restaurant operator's stock valued at $6,030,000 after purchasing an additional 40,822 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in RCI Hospitality by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 65,654 shares of the restaurant operator's stock worth $3,773,000 after acquiring an additional 14,919 shares in the last quarter. 53.82% of the stock is currently owned by institutional investors.

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.