BlackRock Inc. Purchases New Position in RCI Hospitality Holdings, Inc. $RICK

Key Points

• BlackRock purchased 614,370 shares of RCI Hospitality, valued at approximately $16.8 million, giving it an 8.04% 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. It also declared a quarterly dividend of $0.08, representing a 1.1% annualized yield.
• Analyst sentiment remains negative: MarketBeat lists an average rating of “Sell,” while the stock was trading at $28.74, below its one-year high of $36.72.

BlackRock Inc. purchased a new stake in RCI Hospitality Holdings, Inc. (NASDAQ:RICK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 614,370 shares of the restaurant operator's stock, valued at approximately $16,785,000. BlackRock Inc. owned 8.04% of RCI Hospitality as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RICK. BNP Paribas Financial Markets grew its position in shares of RCI Hospitality by 62.0% in the second quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator's stock valued at $32,000 after purchasing an additional 324 shares during the last quarter. State of Wyoming bought a new stake in RCI Hospitality in the 4th quarter valued at $67,000. Copeland Capital Management LLC boosted 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 purchasing an additional 1,816 shares during the period. Brighton Jones LLC acquired a new position in RCI Hospitality in the 4th quarter valued at $211,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in RCI Hospitality in the 3rd quarter valued at $115,000. 53.82% of the stock is currently owned by institutional investors and hedge funds.

RCI Hospitality Price Performance

RCI Hospitality stock opened at $28.74 on Friday. The firm has a market cap of $219.57 million, a PE ratio of -70.10 and a beta of 0.78. 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's fifty day moving average price is $27.74 and its two-hundred day moving average price is $25.53. RCI Hospitality Holdings, Inc. has a one year low of $20.76 and a one year high of $36.72.

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

RCI Hospitality Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RICK. Weiss Ratings reissued a "sell (d)" rating on shares of RCI Hospitality in a report on Monday. Wall Street Zen downgraded shares of RCI Hospitality from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of "Sell".

RCI Hospitality Company 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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