RCI Hospitality (NASDAQ:RICK) Stock Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• RCI Hospitality shares fell below their 50-day moving average of $27.68 on Wednesday, trading as low as $26.96 before last changing hands at $27.31.
• Analyst views remain cautious: despite a recent upgrade from Wall Street Zen, MarketBeat reports a consensus “Sell” rating.
• The company paid a quarterly dividend of $0.08 per share, equivalent to $0.32 annually and a 1.2% yield.

RCI Hospitality Holdings, Inc. (NASDAQ:RICK - Get Free Report) crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $27.68 and traded as low as $26.96. RCI Hospitality shares last traded at $27.31, with a volume of 90,590 shares trading hands.

Wall Street Analyst Weigh In

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

RCI Hospitality Stock Down 3.1%

The firm has a market capitalization of $208.76 million, a price-to-earnings ratio of -66.61 and a beta of 0.86. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average price of $27.68 and a two-hundred day moving average price of $25.93.

RCI Hospitality Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 15th. RCI Hospitality's dividend payout ratio is -78.05%.

Institutional Inflows and Outflows

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

RCI Hospitality Company Profile

RCI Hospitality Holdings, Inc. is a hospitality and entertainment company that operates adult nightclubs, sports bars and restaurants in the United States. The company serves customers through a portfolio of adult-entertainment venues, including Rick's Cabaret, Club Onyx, Tootsie's Cabaret, Jaguars and other regional brands. RCI also operates Bombshells Restaurant & Bar, a sports-themed restaurant and bar concept offering food, beverages and televised sports in a casual setting. In addition to operating venues, the company has pursued a strategy of owning the real estate associated with certain locations, supporting its hospitality operations with a property portfolio.

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