RCI Hospitality Holdings, Inc. (NASDAQ:RICK) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) from a strong-buy rating to a hold rating in a research report released on Wednesday, July 12th.

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 restated a buy rating and issued a $30.00 price target (up from $29.00) on shares of RCI Hospitality Holdings in a research note on Thursday, June 8th.

RCI Hospitality Holdings (NASDAQ:RICK) traded down 3.48% during midday trading on Wednesday, reaching $25.23. 105,692 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $23.50 and its 200 day moving average price is $19.56. The firm has a market cap of $245.19 million, a price-to-earnings ratio of 22.75 and a beta of 0.25. RCI Hospitality Holdings has a 1-year low of $10.58 and a 1-year high of $26.85.

RCI Hospitality Holdings (NASDAQ:RICK) last announced its quarterly earnings data on Wednesday, August 9th. The restaurant operator reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. The company had revenue of $37.43 million during the quarter, compared to the consensus estimate of $37.64 million. RCI Hospitality Holdings had a return on equity of 10.88% and a net margin of 7.84%. During the same period in the previous year, the company posted $0.34 EPS. Equities research analysts anticipate that RCI Hospitality Holdings will post $1.44 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in RCI Hospitality Holdings during the fourth quarter worth $373,000. Renaissance Technologies LLC increased its position in RCI Hospitality Holdings by 73.4% in the fourth quarter. Renaissance Technologies LLC now owns 584,800 shares of the restaurant operator’s stock worth $10,000,000 after buying an additional 247,600 shares during the last quarter. Sanders Morris Harris Inc. purchased a new position in RCI Hospitality Holdings during the first quarter worth about $1,559,000. Acadian Asset Management LLC increased its stake in shares of RCI Hospitality Holdings by 2.6% in the first quarter. Acadian Asset Management LLC now owns 244,610 shares of the restaurant operator’s stock worth $4,233,000 after buying an additional 6,199 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of RCI Hospitality Holdings by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 96,508 shares of the restaurant operator’s stock worth $1,672,000 after buying an additional 2,065 shares during the last quarter. Institutional investors and hedge funds own 40.29% of the company’s stock.

About RCI Hospitality Holdings

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