RCI Hospitality Holdings, Inc. (RICK) Sets New 1-Year High After Earnings Beat
RCI Hospitality Holdings, Inc. (NASDAQ:RICK)’s share price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $26.45 and last traded at $26.44, with a volume of 149,377 shares changing hands. The stock had previously closed at $23.76.
The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. RCI Hospitality Holdings had a net margin of 7.16% and a return on equity of 9.97%. The company had revenue of $37.43 million for the quarter, compared to the consensus estimate of $37.64 million. During the same period last year, the company earned $0.34 earnings per share.
Several research firms recently weighed in on RICK. Zacks Investment Research cut shares of RCI Hospitality Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Westpark Capital reissued a “buy” rating and issued a $30.00 target price (up from $29.00) on shares of RCI Hospitality Holdings in a research note on Thursday, June 8th.
In related news, insider Eric Scott Langan acquired 3,000 shares of RCI Hospitality Holdings stock in a transaction on Friday, May 12th. The stock was purchased at an average cost of $18.74 per share, with a total value of $56,220.00. Following the completion of the transaction, the insider now directly owns 708,375 shares in the company, valued at approximately $13,274,947.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 6.89% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in RICK. Russell Investments Group Ltd. bought a new position in RCI Hospitality Holdings during the fourth quarter worth approximately $373,000. Sanders Morris Harris Inc. bought a new position in RCI Hospitality Holdings during the first quarter worth approximately $1,559,000. Acadian Asset Management LLC boosted its position in RCI Hospitality Holdings by 2.6% in the first quarter. Acadian Asset Management LLC now owns 244,610 shares of the restaurant operator’s stock worth $4,233,000 after buying an additional 6,199 shares during the period. Janney Montgomery Scott LLC boosted its position in RCI Hospitality Holdings by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 96,508 shares of the restaurant operator’s stock worth $1,672,000 after buying an additional 2,065 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in RCI Hospitality Holdings during the first quarter worth approximately $175,000. 40.29% of the stock is owned by hedge funds and other institutional investors.
The company has a market capitalization of $256.07 million, a PE ratio of 26.86 and a beta of 0.25. The company has a 50-day moving average price of $23.33 and a 200-day moving average price of $19.45.
About RCI Hospitality Holdings
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