Legal & General Group Plc Cuts Stake in RCI Hospitality Holdings Inc (NASDAQ:RICK)

Legal & General Group Plc reduced its stake in RCI Hospitality Holdings Inc (NASDAQ:RICK - Free Report) by 89.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of RICK. Wells Fargo & Company MN lifted its holdings 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 worth $278,000 after acquiring an additional 1,333 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in RCI Hospitality in the 4th quarter valued at $771,000. Arrowstreet Capital Limited Partnership increased its stake in RCI Hospitality by 1,839.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 155,525 shares of the restaurant operator's stock worth $8,938,000 after purchasing an additional 147,508 shares during the period. EntryPoint Capital LLC increased its stake in RCI Hospitality by 21.5% in the 4th quarter. EntryPoint Capital LLC now owns 7,392 shares of the restaurant operator's stock worth $425,000 after buying an additional 1,306 shares during the period. Finally, American Century Companies Inc. boosted its position in RCI Hospitality by 63.7% in the 4th quarter. American Century Companies Inc. now owns 104,930 shares of the restaurant operator's stock valued at $6,030,000 after buying an additional 40,822 shares during the period. Hedge funds and other institutional investors own 53.82% of the company's stock.

RCI Hospitality Stock Up 2.2 %

NASDAQ:RICK opened at $40.56 on Friday. The firm has a market capitalization of $359.65 million, a P/E ratio of 72.43 and a beta of 1.45. The company's fifty day moving average price is $42.86 and its 200-day moving average price is $48.78. RCI Hospitality Holdings Inc has a 1-year low of $35.00 and a 1-year high of $61.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.92.

RCI Hospitality Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RICK. StockNews.com raised 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.

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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