Arrowstreet Capital Limited Partnership Reduces Stock Holdings in RCI Hospitality Holdings, Inc. $RICK

Key Points

• Arrowstreet Capital cut its RCI Hospitality stake by 38.1% in the first quarter, selling 68,071 shares and retaining 110,517 shares valued at approximately $2.52 million.
• Institutional ownership remains significant at 53.82%, with several funds increasing their positions or initiating new stakes during recent quarters.
• RCI Hospitality shares opened at $25.50, while Weiss Ratings maintained a “sell” rating; MarketBeat reports a consensus rating of “Sell.” The company also pays a quarterly dividend of $0.08 per share, yielding about 1.3% annually.

Arrowstreet Capital Limited Partnership lessened its position in shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK - Free Report) by 38.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,517 shares of the restaurant operator's stock after selling 68,071 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.44% of RCI Hospitality worth $2,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RICK. BNP Paribas Financial Markets increased its holdings in RCI Hospitality by 62.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator's stock valued at $32,000 after acquiring an additional 324 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of RCI Hospitality during the 4th quarter worth approximately $54,000. State of Wyoming purchased a new stake in RCI Hospitality in the 4th quarter valued at approximately $67,000. Copeland Capital Management LLC lifted its stake in 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 buying an additional 1,816 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in RCI Hospitality during the 3rd quarter valued at $115,000. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of RCI Hospitality in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, RCI Hospitality presently has a consensus rating of "Sell".

RCI Hospitality Stock Up 1.4%

Shares of NASDAQ RICK opened at $25.50 on Wednesday. The firm has a market cap of $194.82 million, a P/E ratio of -32.69 and a beta of 0.76. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.49 and a current ratio of 0.55. RCI Hospitality Holdings, Inc. has a 1 year low of $20.76 and a 1 year high of $38.25. The firm's 50 day moving average price is $26.38 and its 200 day moving average price is $24.76.

RCI Hospitality Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.3%. RCI Hospitality's dividend payout ratio (DPR) is -41.03%.

RCI Hospitality 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.

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