RCI Hospitality (NASDAQ:RICK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Other equities analysts have also recently issued research reports about the company. Westpark Capital restated a “buy” rating and issued a $30.00 price target on shares of RCI Hospitality in a research report on Wednesday, October 11th. ValuEngine cut RCI Hospitality from a “buy” rating to a “hold” rating in a research report on Friday.
A number of hedge funds have recently modified their holdings of RICK. Bessemer Group Inc. acquired a new position in RCI Hospitality in the 2nd quarter valued at about $119,000. Nationwide Fund Advisors increased its position in RCI Hospitality by 269.6% during the 2nd quarter. Nationwide Fund Advisors now owns 6,848 shares of the restaurant operator’s stock worth $163,000 after purchasing an additional 4,995 shares during the period. Sei Investments Co. increased its position in RCI Hospitality by 83.3% during the 2nd quarter. Sei Investments Co. now owns 8,153 shares of the restaurant operator’s stock worth $194,000 after purchasing an additional 3,706 shares during the period. Rhumbline Advisers acquired a new position in RCI Hospitality during the 3rd quarter worth approximately $207,000. Finally, Hancock Holding Co. acquired a new position in RCI Hospitality during the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 48.73% of the company’s stock.
About RCI Hospitality
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