Bank of America Corp DE Sells 33,897 Shares of RCI Hospitality Holdings Inc (NASDAQ:RICK)

Bank of America Corp DE cut its holdings in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK - Free Report) by 68.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,953 shares of the restaurant operator's stock after selling 33,897 shares during the period. Bank of America Corp DE owned about 0.18% of RCI Hospitality worth $917,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of RICK. Tower Research Capital LLC TRC lifted its stake in shares of RCI Hospitality by 356.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 845 shares of the restaurant operator's stock valued at $49,000 after purchasing an additional 660 shares during the period. AlphaQuest LLC lifted its stake in shares of RCI Hospitality by 107.4% in the 4th quarter. AlphaQuest LLC now owns 1,338 shares of the restaurant operator's stock valued at $77,000 after purchasing an additional 693 shares during the period. Brighton Jones LLC acquired a new position in shares of RCI Hospitality in the 4th quarter valued at $211,000. TT Capital Management LLC acquired a new position in shares of RCI Hospitality in the 4th quarter valued at $250,000. Finally, Wells Fargo & Company MN lifted its stake in shares of RCI Hospitality by 38.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,839 shares of the restaurant operator's stock valued at $278,000 after purchasing an additional 1,333 shares during the period. 53.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RICK has been the topic of several research analyst reports. Wall Street Zen raised RCI Hospitality from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. HC Wainwright reissued a "buy" rating and issued a $98.00 price target on shares of RCI Hospitality in a research note on Wednesday, April 9th.

RCI Hospitality Trading Up 3.2%

RCI Hospitality stock opened at $41.68 on Friday. The stock has a 50-day simple moving average of $40.17 and a 200 day simple moving average of $47.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.92 and a current ratio of 1.02. The stock has a market capitalization of $366.70 million, a P/E ratio of 74.43 and a beta of 1.36. RCI Hospitality Holdings Inc has a 52 week low of $35.00 and a 52 week high of $61.66.

RCI Hospitality (NASDAQ:RICK - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The restaurant operator reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.39). RCI Hospitality had a return on equity of 1.77% and a net margin of 1.64%. The company had revenue of $65.88 million for the quarter, compared to analyst estimates of $65.93 million. Analysts expect that RCI Hospitality Holdings Inc will post 4.55 earnings per share for the current year.

RCI Hospitality Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, June 16th. This represents a $0.28 annualized dividend and a yield of 0.67%. RCI Hospitality's dividend payout ratio is currently 33.33%.

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.

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