RCI Hospitality’s (RICK) Buy Rating Reaffirmed at HC Wainwright

RCI Hospitality (NASDAQ:RICK)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $98.00 target price on the restaurant operator’s stock. HC Wainwright’s price objective would suggest a potential upside of 68.85% from the company’s previous close.

Separately, StockNews.com cut shares of RCI Hospitality from a “buy” rating to a “hold” rating in a research note on Tuesday.

RCI Hospitality Stock Up 11.3 %

Shares of NASDAQ:RICK opened at $58.04 on Wednesday. The company’s fifty day moving average is $48.19 and its 200-day moving average is $45.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.82 and a current ratio of 0.90. RCI Hospitality has a 52 week low of $37.61 and a 52 week high of $68.26. The company has a market capitalization of $522.19 million, a PE ratio of 181.38 and a beta of 1.60.

Institutional Trading of RCI Hospitality

A number of hedge funds and other institutional investors have recently modified their holdings of RICK. Progeny 3 Inc. boosted its position in RCI Hospitality by 23.5% in the 2nd quarter. Progeny 3 Inc. now owns 460,968 shares of the restaurant operator’s stock valued at $20,080,000 after buying an additional 87,832 shares during the last quarter. DHK Financial Advisors Inc. acquired a new stake in RCI Hospitality in the second quarter worth about $1,699,000. Barclays PLC raised its holdings in RCI Hospitality by 330.2% during the 3rd quarter. Barclays PLC now owns 13,593 shares of the restaurant operator’s stock worth $605,000 after purchasing an additional 10,433 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in shares of RCI Hospitality by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 51,663 shares of the restaurant operator’s stock valued at $2,250,000 after purchasing an additional 10,275 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of RCI Hospitality by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 48,237 shares of the restaurant operator’s stock worth $2,101,000 after buying an additional 6,174 shares during the period. Institutional investors and hedge funds own 53.82% of the company’s stock.

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.