RCI Hospitality (NASDAQ:RICK) Shares Cross Above 200-Day Moving Average – Time to Sell?

RCI Hospitality Holdings Inc (NASDAQ:RICK) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.24 and traded as high as $52.47. RCI Hospitality shares last traded at $50.20, with a volume of 113,196 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RICK. StockNews.com raised RCI Hospitality from a “hold” rating to a “buy” rating in a research note on Monday, October 7th. HC Wainwright restated a “buy” rating and set a $98.00 price objective on shares of RCI Hospitality in a report on Wednesday, November 6th.

RCI Hospitality Stock Performance

The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 0.80. The stock has a 50 day simple moving average of $44.32 and a 200 day simple moving average of $45.24. The company has a market capitalization of $451.80 million, a price-to-earnings ratio of 96.54 and a beta of 1.56.

RCI Hospitality Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.07 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.56%. This is a boost from RCI Hospitality’s previous quarterly dividend of $0.06. RCI Hospitality’s dividend payout ratio is currently 53.85%.

Hedge Funds Weigh In On RCI Hospitality

Several institutional investors and hedge funds have recently modified their holdings of RICK. BNP Paribas Financial Markets grew its position in shares of RCI Hospitality by 9.8% in the first quarter. BNP Paribas Financial Markets now owns 7,719 shares of the restaurant operator’s stock valued at $448,000 after purchasing an additional 690 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of RCI Hospitality by 24.4% in the first quarter. Russell Investments Group Ltd. now owns 27,733 shares of the restaurant operator’s stock valued at $1,609,000 after purchasing an additional 5,432 shares during the last quarter. Vanguard Group Inc. grew its position in shares of RCI Hospitality by 1.9% in the first quarter. Vanguard Group Inc. now owns 502,041 shares of the restaurant operator’s stock valued at $29,118,000 after purchasing an additional 9,218 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of RCI Hospitality by 246.3% in the first quarter. EntryPoint Capital LLC now owns 3,958 shares of the restaurant operator’s stock valued at $230,000 after purchasing an additional 2,815 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of RCI Hospitality by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,204 shares of the restaurant operator’s stock valued at $360,000 after purchasing an additional 371 shares during the last quarter. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

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.