Bank of New York Mellon Corp Sells 3,703 Shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK)

Bank of New York Mellon Corp reduced its stake in shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) by 5.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,951 shares of the restaurant operator’s stock after selling 3,703 shares during the quarter. Bank of New York Mellon Corp owned about 0.70% of RCI Hospitality worth $2,660,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC raised its position in RCI Hospitality by 13,400.0% in the 1st quarter. GAMMA Investing LLC now owns 945 shares of the restaurant operator’s stock worth $41,000 after purchasing an additional 938 shares during the period. Tower Research Capital LLC TRC grew its stake in RCI Hospitality by 356.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 845 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 660 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in RCI Hospitality during the 4th quarter worth $53,000. Brighton Jones LLC purchased a new position in shares of RCI Hospitality during the fourth quarter valued at $211,000. Finally, TT Capital Management LLC bought a new stake in shares of RCI Hospitality in the 4th quarter valued at about $250,000. Institutional investors own 53.82% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $98.00 target price on shares of RCI Hospitality in a research report on Wednesday, April 9th.

RCI Hospitality Price Performance

Shares of RICK stock opened at $38.18 on Monday. RCI Hospitality Holdings, Inc. has a 1-year low of $35.00 and a 1-year high of $61.66. The company has a market cap of $334.46 million, a P/E ratio of 45.45 and a beta of 1.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.98 and a quick ratio of 0.88. The stock’s 50-day moving average is $39.86 and its 200 day moving average is $44.18.

RCI Hospitality (NASDAQ:RICK) last announced its earnings results on Monday, May 12th. The restaurant operator reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.39). The business had revenue of $65.88 million for the quarter, compared to analysts’ expectations of $65.93 million. RCI Hospitality had a return on equity of 2.71% and a net margin of 2.53%. Research analysts predict that RCI Hospitality Holdings, Inc. will post 4.55 earnings per share for the current fiscal year.

RCI Hospitality Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Monday, June 16th. RCI Hospitality’s payout ratio is currently 33.33%.

About RCI Hospitality

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.