Legal & General Group Plc Sells 6,684 Shares of RCI Hospitality Holdings Inc (NASDAQ:RICK)

Legal & General Group Plc reduced its holdings in RCI Hospitality Holdings Inc (NASDAQ:RICK - Free Report) by 89.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 779 shares of the restaurant operator's stock after selling 6,684 shares during the period. Legal & General Group Plc's holdings in RCI Hospitality were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RICK. Barclays PLC boosted its holdings in shares of RCI Hospitality by 330.2% during the 3rd quarter. Barclays PLC now owns 13,593 shares of the restaurant operator's stock valued at $605,000 after acquiring an additional 10,433 shares in the last quarter. Brighton Jones LLC bought a new stake in shares of RCI Hospitality in the 4th quarter valued at $211,000. Heck Capital Advisors LLC acquired a new position in shares of RCI Hospitality during the fourth quarter valued at about $53,000. Bank of New York Mellon Corp boosted its holdings in RCI Hospitality by 29.4% in the fourth quarter. Bank of New York Mellon Corp now owns 65,654 shares of the restaurant operator's stock worth $3,773,000 after acquiring an additional 14,919 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in RCI Hospitality by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 68,070 shares of the restaurant operator's stock valued at $3,912,000 after purchasing an additional 363 shares during the period. Institutional investors own 53.82% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on RICK shares. StockNews.com upgraded shares of RCI Hospitality from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. HC Wainwright reiterated a "buy" rating and issued a $98.00 target price on shares of RCI Hospitality in a research note on Wednesday, April 9th.

RCI Hospitality Stock Up 0.4 %

Shares of RICK traded up $0.17 during mid-day trading on Wednesday, reaching $40.82. The company had a trading volume of 36,746 shares, compared to its average volume of 86,326. RCI Hospitality Holdings Inc has a 52 week low of $35.00 and a 52 week high of $61.66. 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 company has a market capitalization of $361.95 million, a price-to-earnings ratio of 72.89 and a beta of 1.41. The firm has a 50-day moving average price of $42.12 and a 200 day moving average price of $48.70.

RCI Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, March 17th. RCI Hospitality's dividend payout ratio (DPR) is presently 50.00%.

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.