RCI Hospitality (NASDAQ:RICK) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.08 and traded as high as $24.48. RCI Hospitality shares last traded at $24.11, with a volume of 62,971 shares.

RCI Hospitality Stock Down 0.8%

The company has a current ratio of 0.66, a quick ratio of 0.59 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $184.44 million, a P/E ratio of -63.45 and a beta of 0.76. The company has a 50 day simple moving average of $24.17 and a two-hundred day simple moving average of $24.08.

RCI Hospitality (NASDAQ:RICK) last posted its quarterly earnings results on Thursday, March 19th. The restaurant operator reported ($0.63) earnings per share for the quarter, missing the consensus estimate of $1.81 by ($2.44). RCI Hospitality had a negative return on equity of 4.24% and a negative net margin of 3.85%.The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $69.80 million.

RCI Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Monday, March 16th. This is a positive change from RCI Hospitality’s previous quarterly dividend of $0.07. RCI Hospitality’s dividend payout ratio is currently -84.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RICK. BNP Paribas Financial Markets boosted its stake in RCI Hospitality by 62.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 324 shares during the period. State of Alaska Department of Revenue bought a new position in shares of RCI Hospitality during the 4th quarter valued at approximately $54,000. State of Wyoming bought a new position in shares of RCI Hospitality during the 4th quarter valued at approximately $67,000. Copeland Capital Management LLC boosted its position in shares of RCI Hospitality by 122.0% during the 1st quarter. Copeland Capital Management LLC now owns 3,305 shares of the restaurant operator’s stock valued at $75,000 after acquiring an additional 1,816 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of RCI Hospitality during the 3rd quarter valued at approximately $115,000. 53.82% of the stock is currently owned by institutional investors.

RCI Hospitality Company Profile

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.