RCI Hospitality (NASDAQ:RICK) Downgraded by StockNews.com to “Hold”

RCI Hospitality (NASDAQ:RICK) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, HC Wainwright restated a “buy” rating and issued a $98.00 target price on shares of RCI Hospitality in a report on Wednesday, November 6th.

RCI Hospitality Stock Up 11.3 %

RICK traded up $5.91 during trading on Tuesday, hitting $58.04. 515,729 shares of the company’s stock were exchanged, compared to its average volume of 79,638. RCI Hospitality has a fifty-two week low of $37.61 and a fifty-two week high of $68.26. The stock has a market cap of $522.19 million, a P/E ratio of 181.38 and a beta of 1.60. The business’s 50 day moving average is $48.19 and its two-hundred day moving average is $45.76. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80.

Hedge Funds Weigh In On RCI Hospitality

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of RCI Hospitality in the third quarter valued at about $29,000. Point72 Asia Singapore Pte. Ltd. boosted its holdings in RCI Hospitality by 254.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 694 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 498 shares during the last quarter. Copeland Capital Management LLC bought a new stake in RCI Hospitality in the 3rd quarter worth about $54,000. Victory Capital Management Inc. purchased a new stake in RCI Hospitality in the 2nd quarter valued at about $76,000. Finally, FMR LLC lifted its position in shares of RCI Hospitality by 132.6% during the 3rd quarter. FMR LLC now owns 1,800 shares of the restaurant operator’s stock worth $80,000 after buying an additional 1,026 shares in the last quarter. 53.82% of the stock is owned by hedge funds and other institutional investors.

RCI Hospitality Company Profile

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.