Acadian Asset Management LLC cut its stake in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK) by 4.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,679 shares of the restaurant operator’s stock after selling 4,457 shares during the period. Acadian Asset Management LLC owned approximately 1.08% of RCI Hospitality worth $3,099,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Cadence Capital Management LLC acquired a new stake in shares of RCI Hospitality during the second quarter valued at about $1,953,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of RCI Hospitality by 35.4% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,500 shares of the restaurant operator’s stock valued at $617,000 after acquiring an additional 5,100 shares during the last quarter. Martingale Asset Management L P increased its position in shares of RCI Hospitality by 32.7% during the second quarter. Martingale Asset Management L P now owns 32,904 shares of the restaurant operator’s stock valued at $1,042,000 after acquiring an additional 8,100 shares during the last quarter. BlackRock Inc. increased its position in shares of RCI Hospitality by 11.4% during the second quarter. BlackRock Inc. now owns 468,991 shares of the restaurant operator’s stock valued at $14,842,000 after acquiring an additional 47,846 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of RCI Hospitality by 3.4% during the second quarter. Renaissance Technologies LLC now owns 679,196 shares of the restaurant operator’s stock valued at $21,497,000 after acquiring an additional 22,486 shares during the last quarter. Institutional investors and hedge funds own 48.27% of the company’s stock.
Shares of RICK stock opened at $26.33 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $251.89 million, a P/E ratio of 18.41 and a beta of 0.89. RCI Hospitality Holdings Inc has a fifty-two week low of $25.27 and a fifty-two week high of $34.84.
RCI Hospitality (NASDAQ:RICK) last announced its quarterly earnings data on Thursday, August 9th. The restaurant operator reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $42.63 million during the quarter, compared to analysts’ expectations of $40.97 million. RCI Hospitality had a net margin of 13.48% and a return on equity of 13.85%. As a group, research analysts predict that RCI Hospitality Holdings Inc will post 2.23 EPS for the current year.
A number of equities research analysts have weighed in on the stock. BidaskClub cut shares of RCI Hospitality from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Westpark Capital set a $34.00 price target on shares of RCI Hospitality and gave the company a “buy” rating in a research report on Friday, July 13th. Finally, Zacks Investment Research cut shares of RCI Hospitality from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. RCI Hospitality has a consensus rating of “Hold” and a consensus price target of $36.00.
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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 two segments, Nightclubs and Bombshells. The company owns 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, Foxy's Cabaret, Vivid Cabaret, Downtown Cabaret, Temptations Adult Cabaret, Scarlett's Cabaret, Silver City Cabaret, Cabaret East, and The Seville brands.
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