RCI Hospitality Holdings, Inc. (NASDAQ:RICK) Sees Significant Increase in Short Interest

RCI Hospitality Holdings, Inc. (NASDAQ:RICK) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,209,464 shares, a growth of 25.7% from the February 26th total of 962,068 shares. Based on an average daily trading volume, of 64,465 shares, the short-interest ratio is presently 18.8 days. Approximately 17.4% of the company’s shares are short sold.

Hedge Funds Weigh In On RCI Hospitality

A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in shares of RCI Hospitality by 62.0% in the second quarter. BNP Paribas Financial Markets now owns 847 shares of the restaurant operator’s stock worth $32,000 after buying an additional 324 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in RCI Hospitality during the fourth quarter valued at approximately $54,000. CWM LLC lifted its holdings in RCI Hospitality by 1,256.9% in the third quarter. CWM LLC now owns 1,954 shares of the restaurant operator’s stock valued at $60,000 after acquiring an additional 1,810 shares during the period. State of Wyoming acquired a new position in RCI Hospitality in the fourth quarter valued at approximately $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in RCI Hospitality in the 3rd quarter worth approximately $115,000. Hedge funds and other institutional investors own 53.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of RCI Hospitality in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $98.00.

RCI Hospitality Stock Up 1.3%

RCI Hospitality stock traded up $0.30 during mid-day trading on Monday, reaching $23.27. 43,885 shares of the company were exchanged, compared to its average volume of 78,051. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.73 and a current ratio of 0.81. The firm has a market cap of $179.43 million, a P/E ratio of 19.39 and a beta of 0.82. The business has a fifty day moving average of $23.26 and a 200 day moving average of $25.14. RCI Hospitality has a 12-month low of $20.76 and a 12-month high of $47.00.

RCI Hospitality (NASDAQ:RICK) last announced its quarterly earnings results on Thursday, March 19th. The restaurant operator reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($2.44). RCI Hospitality had a net margin of 3.87% and a return on equity of 4.05%. The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $69.80 million. Research analysts anticipate that RCI Hospitality will post 4.55 earnings per share for the current fiscal year.

RCI Hospitality Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from RCI Hospitality’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.4%. RCI Hospitality’s dividend payout ratio is currently 26.67%.

RCI Hospitality Company 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.