RCI Hospitality Holdings, Inc. (NASDAQ:RICK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “RCI Hospitality Holdings, Inc. owns and/or operates adult nightclubs that offer live adult entertainment, restaurant, and bar services. It operates adult nightclubs under the name Rick’s Cabaret, Club Onyx, XTC Cabaret, Tootsie’s Cabaret, Cabaret North, Jaguars and Cabaret East. The Company also owns and operates adult Internet Websites. RCI Hospitality Holdings, Inc., formerly known as Rick’s Cabaret International, Inc., is based in Houston, Texas. “

Separately, Westpark Capital set a $30.00 price target on shares of RCI Hospitality Holdings and gave the company a “buy” rating in a research note on Thursday, August 10th.

RCI Hospitality Holdings (RICK) traded down 0.420% during mid-day trading on Wednesday, reaching $24.875. 17,842 shares of the company were exchanged. The firm has a market capitalization of $241.74 million, a P/E ratio of 22.491 and a beta of 0.27. The stock has a 50-day moving average of $24.27 and a 200 day moving average of $21.50. RCI Hospitality Holdings has a 1-year low of $10.92 and a 1-year high of $26.85.

RCI Hospitality Holdings (NASDAQ:RICK) last announced its quarterly earnings results on Wednesday, August 9th. The restaurant operator reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $37.43 million for the quarter, compared to analyst estimates of $37.64 million. RCI Hospitality Holdings had a net margin of 7.84% and a return on equity of 10.75%. During the same period in the prior year, the firm posted $0.34 earnings per share. Equities research analysts forecast that RCI Hospitality Holdings will post $1.44 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of RCI Hospitality Holdings by 4.2% in the second quarter. Renaissance Technologies LLC now owns 616,700 shares of the restaurant operator’s stock valued at $14,702,000 after acquiring an additional 24,700 shares during the period. Vanguard Group Inc. boosted its holdings in shares of RCI Hospitality Holdings by 5.7% in the second quarter. Vanguard Group Inc. now owns 470,228 shares of the restaurant operator’s stock valued at $11,210,000 after acquiring an additional 25,561 shares during the period. LSV Asset Management boosted its holdings in shares of RCI Hospitality Holdings by 4.8% in the second quarter. LSV Asset Management now owns 339,123 shares of the restaurant operator’s stock valued at $8,084,000 after acquiring an additional 15,500 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of RCI Hospitality Holdings by 17.1% in the second quarter. Acadian Asset Management LLC now owns 286,500 shares of the restaurant operator’s stock valued at $6,831,000 after acquiring an additional 41,890 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of RCI Hospitality Holdings by 172.4% in the second quarter. Northern Trust Corp now owns 125,642 shares of the restaurant operator’s stock valued at $2,996,000 after acquiring an additional 79,510 shares during the period. 48.47% of the stock is owned by institutional investors and hedge funds.

About RCI Hospitality Holdings

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