Bank of New York Mellon Corp Boosts Stake in RCI Hospitality Holdings Inc (NASDAQ:RICK)

Bank of New York Mellon Corp lifted its holdings in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK) by 7.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 60,704 shares of the restaurant operator’s stock after acquiring an additional 4,126 shares during the quarter. Bank of New York Mellon Corp’s holdings in RCI Hospitality were worth $2,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. EntryPoint Capital LLC lifted its stake in RCI Hospitality by 246.3% during the 1st quarter. EntryPoint Capital LLC now owns 3,958 shares of the restaurant operator’s stock valued at $230,000 after acquiring an additional 2,815 shares during the period. SG Americas Securities LLC purchased a new position in shares of RCI Hospitality during the second quarter valued at approximately $177,000. Price T Rowe Associates Inc. MD lifted its position in RCI Hospitality by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,204 shares of the restaurant operator’s stock valued at $360,000 after purchasing an additional 371 shares during the period. Annex Advisory Services LLC boosted its holdings in RCI Hospitality by 41.1% in the fourth quarter. Annex Advisory Services LLC now owns 6,520 shares of the restaurant operator’s stock worth $432,000 after purchasing an additional 1,898 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in RCI Hospitality by 8.9% in the 4th quarter. BNP Paribas Financial Markets now owns 7,029 shares of the restaurant operator’s stock worth $466,000 after purchasing an additional 575 shares during the period. 53.82% of the stock is owned by hedge funds and other institutional investors.

RCI Hospitality Stock Performance

RICK opened at $44.43 on Tuesday. The company’s 50 day moving average is $45.16 and its 200 day moving average is $47.99. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 0.80. The company has a market cap of $399.87 million, a price-to-earnings ratio of 21.78, a PEG ratio of 5.38 and a beta of 1.56. RCI Hospitality Holdings Inc has a 12-month low of $37.61 and a 12-month high of $69.40.

RCI Hospitality (NASDAQ:RICK) last released its quarterly earnings results on Thursday, August 8th. The restaurant operator reported ($0.56) earnings per share for the quarter, missing the consensus estimate of $0.71 by ($1.27). RCI Hospitality had a return on equity of 1.76% and a net margin of 1.67%. The business had revenue of $76.18 million during the quarter, compared to the consensus estimate of $72.79 million. The company’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that RCI Hospitality Holdings Inc will post 0.69 EPS for the current year.

RCI Hospitality Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, September 16th. This is an increase from RCI Hospitality’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 0.63%. RCI Hospitality’s payout ratio is 11.76%.

Wall Street Analyst Weigh In

RICK has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $98.00 price target on shares of RCI Hospitality in a report on Monday, August 12th. StockNews.com upgraded RCI Hospitality from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

RCI Hospitality 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.