ADW Capital Management LLC Sells 58,782 Shares of RCI Hospitality Holdings, Inc. $RICK

ADW Capital Management LLC cut its holdings in RCI Hospitality Holdings, Inc. (NASDAQ:RICK) by 6.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 821,000 shares of the restaurant operator’s stock after selling 58,782 shares during the quarter. RCI Hospitality accounts for 14.3% of ADW Capital Management LLC’s investment portfolio, making the stock its 4th largest position. ADW Capital Management LLC owned about 9.42% of RCI Hospitality worth $25,049,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Two Sigma Investments LP grew its stake in RCI Hospitality by 1,375.2% in the 3rd quarter. Two Sigma Investments LP now owns 79,320 shares of the restaurant operator’s stock valued at $2,420,000 after acquiring an additional 73,943 shares during the period. American Century Companies Inc. lifted its holdings in RCI Hospitality by 16.3% during the second quarter. American Century Companies Inc. now owns 186,066 shares of the restaurant operator’s stock valued at $7,093,000 after purchasing an additional 26,110 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of RCI Hospitality in the third quarter valued at about $686,000. SummerHaven Investment Management LLC acquired a new stake in shares of RCI Hospitality in the third quarter valued at about $639,000. Finally, TT Capital Management LLC purchased a new stake in shares of RCI Hospitality during the second quarter worth about $766,000. 53.82% of the stock is owned by institutional investors and hedge funds.

RCI Hospitality Stock Down 0.5%

Shares of RICK opened at $21.42 on Friday. The company’s 50-day moving average price is $23.78 and its 200 day moving average price is $26.16. RCI Hospitality Holdings, Inc. has a 12-month low of $21.00 and a 12-month high of $47.03. The company has a current ratio of 0.92, a quick ratio of 0.83 and a debt-to-equity ratio of 0.83. The firm has a market cap of $186.78 million, a P/E ratio of 11.52 and a beta of 0.82.

RCI Hospitality Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from RCI Hospitality’s previous quarterly dividend of $0.07. RCI Hospitality’s payout ratio is currently 15.05%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of RCI Hospitality in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $98.00.

RCI Hospitality 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.