Arizona State Retirement System Makes New Investment in RCI Hospitality Holdings Inc (NASDAQ:RICK)

Arizona State Retirement System bought a new position in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,347 shares of the restaurant operator’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in RCI Hospitality during the first quarter worth $27,000. Cannell Capital LLC acquired a new stake in shares of RCI Hospitality in the first quarter valued at $28,000. Tower Research Capital LLC TRC grew its stake in shares of RCI Hospitality by 112.9% in the third quarter. Tower Research Capital LLC TRC now owns 528 shares of the restaurant operator’s stock valued at $34,000 after buying an additional 280 shares in the last quarter. Covestor Ltd acquired a new stake in shares of RCI Hospitality in the first quarter valued at $41,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of RCI Hospitality by 36.7% in the second quarter. BNP Paribas Arbitrage SA now owns 1,990 shares of the restaurant operator’s stock valued at $96,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 46.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RICK. HC Wainwright reiterated a “buy” rating and issued a $140.00 target price on shares of RCI Hospitality in a report on Wednesday, April 12th. StockNews.com began coverage on RCI Hospitality in a report on Thursday, May 18th. They issued a “buy” rating for the company.

RCI Hospitality Stock Up 0.4 %

Shares of NASDAQ RICK opened at $76.74 on Thursday. The company has a market capitalization of $723.66 million, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 1.21 and a beta of 1.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.78 and a quick ratio of 0.70. The business has a 50-day moving average of $75.54 and a two-hundred day moving average of $84.05. RCI Hospitality Holdings Inc has a 1 year low of $46.49 and a 1 year high of $97.45.

RCI Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 29th. Shareholders of record on Wednesday, March 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.31%. This is an increase from RCI Hospitality’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 14th. RCI Hospitality’s payout ratio is 5.25%.

RCI Hospitality Profile

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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.