RCI Hospitality (NASDAQ:RICK) Share Price Breaks Above 200 Day Moving Average - Here's Why

Key Points

• RCI Hospitality shares broke above their 200-day moving average, reaching $27.86 and last trading at $27.48, compared with the average of $26.24.
• Analyst sentiment remains negative despite Wall Street Zen upgrading the stock to “buy”; Weiss Ratings maintained a “sell” rating, and MarketBeat’s consensus rating is “Sell.”
• The company reported quarterly EPS of $0.90 on $73.94 million in revenue and declared a quarterly dividend of $0.08 per share, equivalent to a 1.2% annualized yield.

Shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK - Get Free Report) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $26.24 and traded as high as $27.86. RCI Hospitality shares last traded at $27.48, with a volume of 22,185 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RICK. Wall Street Zen raised shares of RCI Hospitality from a "hold" rating to a "buy" rating in a research note on Sunday, September 6th. Weiss Ratings reissued a "sell (d)" rating on shares of RCI Hospitality in a research note on Monday, August 31st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of "Sell".

RCI Hospitality Trading Down 0.3%

The stock has a market cap of $209.95 million, a PE ratio of -67.02 and a beta of 0.78. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.48 and a current ratio of 0.56. The stock has a fifty day moving average price of $28.30 and a 200 day moving average price of $26.24.

RCI Hospitality (NASDAQ:RICK - Get Free Report) last issued its quarterly 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 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. Investors of record on Tuesday, September 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.2%. RCI Hospitality's payout ratio is currently -78.05%.

Institutional Trading of RCI Hospitality

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RICK. State of Wyoming purchased a new position in shares of RCI Hospitality during the second quarter valued at approximately $79,000. Copeland Capital Management LLC raised its holdings in shares of RCI Hospitality by 122.0% in the first quarter. Copeland Capital Management LLC now owns 3,305 shares of the restaurant operator's stock worth $75,000 after buying an additional 1,816 shares during the period. Deutsche Bank AG purchased a new stake in shares of RCI Hospitality in the second quarter worth approximately $180,000. Squarepoint Ops LLC purchased a new stake in shares of RCI Hospitality in the second quarter worth approximately $224,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of RCI Hospitality during the 2nd quarter worth approximately $273,000. 53.82% of the stock is owned by hedge funds and other institutional investors.

About RCI Hospitality

RCI Hospitality Holdings, Inc is a Houston-based hospitality and entertainment company that operates adult nightclubs, sports bars and restaurants in the United States. Its businesses serve customers through a portfolio of company-owned and franchised venues, with operations focused primarily on adult entertainment and casual dining.

The company's adult entertainment venues operate under brands that include Rick's Cabaret, Club Onyx, Tootsie's Cabaret and Scarlett's Cabaret. RCI also operates Bombshells Restaurant & Bar, a military-themed sports bar and restaurant concept offering food, beverages and televised sporting events.

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