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

RCI Hospitality (NASDAQ:RICK)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $98.00 price target on the restaurant operator’s stock. HC Wainwright’s price target points to a potential upside of 68.85% from the stock’s current price.

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

RCI Hospitality Trading Up 11.3 %

NASDAQ:RICK opened at $58.04 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.82 and a current ratio of 0.90. The company has a market capitalization of $522.19 million, a P/E ratio of 181.38 and a beta of 1.60. The stock’s 50 day moving average price is $48.19 and its 200 day moving average price is $45.76. RCI Hospitality has a 52 week low of $37.61 and a 52 week high of $68.26.

Institutional Trading of RCI Hospitality

A number of hedge funds have recently bought and sold shares of the stock. Progeny 3 Inc. lifted its stake in shares of RCI Hospitality by 23.5% in the second 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 period. DHK Financial Advisors Inc. acquired a new position in shares of RCI Hospitality in the 2nd quarter valued at $1,699,000. Aptus Capital Advisors LLC lifted its holdings in shares of RCI Hospitality by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 51,663 shares of the restaurant operator’s stock worth $2,250,000 after acquiring an additional 10,275 shares during the period. Quest Partners LLC acquired a new stake in shares of RCI Hospitality during the 3rd quarter valued at about $29,000. Finally, Bank of New York Mellon Corp increased its stake in RCI Hospitality by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 60,704 shares of the restaurant operator’s stock valued at $2,644,000 after acquiring an additional 4,126 shares during the period. 53.82% of the stock is owned by 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.