RCI Hospitality (NASDAQ:RICK) Shares Gap Up - Here's Why

Shares of RCI Hospitality Holdings Inc (NASDAQ:RICK - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $52.13, but opened at $56.00. RCI Hospitality shares last traded at $59.81, with a volume of 132,458 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RICK shares. StockNews.com raised shares of RCI Hospitality from a "hold" rating to a "buy" rating in a research note on Monday, October 7th. HC Wainwright reissued a "buy" rating and set a $98.00 price objective on shares of RCI Hospitality in a research note on Wednesday, November 6th.

RCI Hospitality Stock Up 11.3 %

The business's 50 day simple moving average is $47.86 and its 200 day simple moving average is $45.66. The company has a market capitalization of $522.36 million, a PE ratio of 110.58 and a beta of 1.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80.

RCI Hospitality Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 16th. RCI Hospitality's payout ratio is 53.85%.

Institutional Trading of RCI Hospitality

A number of hedge funds have recently modified their holdings of RICK. Progeny 3 Inc. raised its position in RCI Hospitality by 23.5% during the second quarter. Progeny 3 Inc. now owns 460,968 shares of the restaurant operator's stock valued at $20,080,000 after buying an additional 87,832 shares during the period. DHK Financial Advisors Inc. acquired a new position in shares of RCI Hospitality in the 2nd quarter valued at about $1,699,000. Barclays PLC lifted its position in shares of RCI Hospitality by 330.2% in the third quarter. Barclays PLC now owns 13,593 shares of the restaurant operator's stock worth $605,000 after purchasing an additional 10,433 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of RCI Hospitality by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 51,663 shares of the restaurant operator's stock worth $2,250,000 after purchasing an additional 10,275 shares during the period. Finally, American Century Companies Inc. grew its position in 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. Hedge funds and other institutional investors 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.