HC Wainwright Reaffirms "Buy" Rating for RCI Hospitality (NASDAQ:RICK)

HC Wainwright reiterated their buy rating on shares of RCI Hospitality (NASDAQ:RICK - Free Report) in a report released on Wednesday,Benzinga reports. The firm currently has a $98.00 price target on the restaurant operator's stock.

Separately, StockNews.com lowered RCI Hospitality from a "buy" rating to a "hold" rating in a research note on Tuesday.

RCI Hospitality Price Performance

Shares of RCI Hospitality stock traded down $1.15 on Wednesday, hitting $56.89. 276,905 shares of the company were exchanged, compared to its average volume of 80,525. 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 company has a 50-day moving average price of $48.49 and a 200 day moving average price of $45.83. The stock has a market capitalization of $511.84 million, a price-to-earnings ratio of 109.41 and a beta of 1.60. RCI Hospitality has a 1-year low of $37.61 and a 1-year high of $68.26.

RCI Hospitality Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.07 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.28 annualized dividend and a yield of 0.49%. RCI Hospitality's payout ratio is 87.50%.

Institutional Trading of RCI Hospitality

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in RCI Hospitality by 254.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator's stock valued at $31,000 after acquiring an additional 498 shares during the last quarter. Ridgewood Investments LLC lifted its stake in shares of RCI Hospitality by 2.4% in the 2nd quarter. Ridgewood Investments LLC now owns 25,558 shares of the restaurant operator's stock valued at $1,113,000 after purchasing an additional 600 shares during the last quarter. Quest Partners LLC acquired a new position in shares of RCI Hospitality in the 3rd quarter valued at $29,000. FMR LLC grew its holdings in shares of RCI Hospitality by 132.6% during the 3rd quarter. FMR LLC now owns 1,800 shares of the restaurant operator's stock worth $80,000 after purchasing an additional 1,026 shares during the period. Finally, Copeland Capital Management LLC acquired a new stake in shares of RCI Hospitality during the 3rd quarter worth about $54,000. Institutional investors and hedge funds 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.