ADW Capital Management LLC Sells 10,746 Shares of RCI Hospitality Holdings Inc (NASDAQ:RICK)

ADW Capital Management LLC lowered its stake in RCI Hospitality Holdings Inc (NASDAQ:RICK) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 888,468 shares of the restaurant operator’s stock after selling 10,746 shares during the period. RCI Hospitality makes up approximately 15.7% of ADW Capital Management LLC’s holdings, making the stock its 2nd biggest position. ADW Capital Management LLC owned about 9.98% of RCI Hospitality worth $51,060,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its position in RCI Hospitality by 330.2% during the third quarter. Barclays PLC now owns 13,593 shares of the restaurant operator’s stock worth $605,000 after purchasing an additional 10,433 shares during the period. Brighton Jones LLC acquired a new stake in shares of RCI Hospitality in the fourth quarter worth $211,000. Heck Capital Advisors LLC bought a new stake in shares of RCI Hospitality during the 4th quarter worth $53,000. Bank of New York Mellon Corp grew its stake in RCI Hospitality by 29.4% in the 4th quarter. Bank of New York Mellon Corp now owns 65,654 shares of the restaurant operator’s stock valued at $3,773,000 after buying an additional 14,919 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in RCI Hospitality by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 68,070 shares of the restaurant operator’s stock worth $3,912,000 after acquiring an additional 363 shares during the period. Institutional investors and hedge funds own 53.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $98.00 price target on shares of RCI Hospitality in a report on Wednesday, April 9th. StockNews.com raised shares of RCI Hospitality from a “hold” rating to a “buy” rating in a report on Wednesday, February 12th.

RCI Hospitality Stock Performance

NASDAQ:RICK opened at $40.56 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.02 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $42.86 and a 200 day moving average price of $48.78. The firm has a market capitalization of $359.65 million, a PE ratio of 72.43 and a beta of 1.45. RCI Hospitality Holdings Inc has a 12-month low of $35.00 and a 12-month high of $61.66.

RCI Hospitality Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.07 per share. The ex-dividend date was Monday, March 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.69%. RCI Hospitality’s dividend payout ratio (DPR) is presently 50.00%.

RCI Hospitality Company Profile

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.