Bank of New York Mellon Corp Makes New Investment in RCI Hospitality Holdings, Inc. $RICK

Key Points

• Bank of New York Mellon acquired 81,964 shares of RCI Hospitality Holdings during the second quarter, worth approximately $2.24 million and representing a 1.07% stake. Institutional investors and hedge funds collectively own 53.82% of the company.
• RCI Hospitality reported quarterly revenue of $73.94 million and earnings of $0.90 per share. The company declared a quarterly dividend of $0.08 per share, equating to a 1.1% yield.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “Sell” rating, despite the stock trading above its 50-day and 200-day moving averages.

Bank of New York Mellon Corp acquired a new stake in RCI Hospitality Holdings, Inc. (NASDAQ:RICK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 81,964 shares of the restaurant operator's stock, valued at approximately $2,239,000. Bank of New York Mellon Corp owned 1.07% of RCI Hospitality as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Steel Partners Holdings L.P. acquired a new position in shares of RCI Hospitality in the fourth quarter valued at $7,459,000. Two Sigma Investments LP lifted its stake in shares of RCI Hospitality by 1,375.2% during the 3rd quarter. Two Sigma Investments LP now owns 79,320 shares of the restaurant operator's stock worth $2,420,000 after buying an additional 73,943 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of RCI Hospitality by 320.1% during the 1st quarter. Quantinno Capital Management LP now owns 45,311 shares of the restaurant operator's stock worth $1,034,000 after buying an additional 34,525 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of RCI Hospitality during the 3rd quarter worth about $1,043,000. Finally, AQR Capital Management LLC grew its position in shares of RCI Hospitality by 30.1% in the fourth quarter. AQR Capital Management LLC now owns 99,461 shares of the restaurant operator's stock valued at $2,371,000 after purchasing an additional 23,015 shares during the last quarter. 53.82% of the stock is owned by institutional investors and hedge funds.

RCI Hospitality Stock Performance

Shares of NASDAQ:RICK opened at $29.35 on Tuesday. RCI Hospitality Holdings, Inc. has a 1 year low of $20.76 and a 1 year high of $36.72. The company's 50 day simple moving average is $27.83 and its 200 day simple moving average is $25.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.56 and a quick ratio of 0.48. The stock has a market capitalization of $224.23 million, a price-to-earnings ratio of -71.58 and a beta of 0.78.

RCI Hospitality (NASDAQ:RICK - Get Free Report) last issued its earnings results on Thursday, August 6th. The restaurant operator reported $0.90 EPS for the quarter. The firm had revenue of $73.94 million during the quarter. RCI Hospitality had a negative return on equity of 1.74% and a negative net margin of 1.48%.

RCI Hospitality Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, September 15th. RCI Hospitality's dividend payout ratio (DPR) is presently -78.05%.

Wall Street Analysts Forecast Growth

RICK has been the topic of several recent research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of RCI Hospitality in a research report on Monday, August 31st. Wall Street Zen upgraded shares of RCI Hospitality from a "hold" rating to a "buy" rating in a research note on Sunday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Sell".

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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