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

Key Points

• RCI Hospitality’s stock moved above its 200-day moving average, trading as high as $26.60 and last changing hands at $26.07. The move came on volume of 39,604 shares.
• Analyst sentiment remains weak, as Weiss Ratings reiterated a “sell (d)” rating on the stock and MarketBeat data shows an overall average rating of “Sell.”
• The company recently paid a quarterly dividend of $0.08 per share, which annualizes to $0.32 and implies a 1.2% yield. RCI Hospitality also has notable institutional ownership, with hedge funds and other investors holding 53.82% of the stock.

RCI Hospitality Holdings, Inc. (NASDAQ:RICK - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $24.72 and traded as high as $26.60. RCI Hospitality shares last traded at $26.07, with a volume of 39,604 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d)" rating on shares of RCI Hospitality in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of "Sell".

RCI Hospitality Trading Up 0.8%

The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.49 and a current ratio of 0.55. The firm has a market capitalization of $199.17 million, a price-to-earnings ratio of -33.42 and a beta of 0.75. The company has a 50 day moving average price of $26.14 and a two-hundred day moving average price of $24.72.

RCI Hospitality Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 15th. RCI Hospitality's payout ratio is presently -41.03%.

Hedge Funds Weigh In On RCI Hospitality

A number of large investors have recently added to or reduced their stakes in 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 period. State of Alaska Department of Revenue acquired a new position in shares of RCI Hospitality during the 4th quarter worth about $54,000. State of Wyoming acquired a new position in shares of RCI Hospitality during the 4th quarter worth about $67,000. Copeland Capital Management LLC lifted 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 buying an additional 1,816 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in RCI Hospitality in the 4th quarter valued at about $211,000. 53.82% of the stock is currently owned by institutional investors and hedge funds.

About RCI Hospitality

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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