Meeder Asset Management Inc. Acquires New Stake in RCI Hospitality Holdings, Inc. (NASDAQ:RICK)

Meeder Asset Management Inc. bought a new position in shares of RCI Hospitality Holdings, Inc. (NASDAQ:RICK) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 3,570 shares of the restaurant operator’s stock, valued at approximately $153,000.

Several other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership boosted its position in shares of RCI Hospitality by 1,839.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 155,525 shares of the restaurant operator’s stock worth $8,938,000 after purchasing an additional 147,508 shares in the last quarter. American Century Companies Inc. boosted its position in shares of RCI Hospitality by 63.7% during the 4th quarter. American Century Companies Inc. now owns 104,930 shares of the restaurant operator’s stock worth $6,030,000 after purchasing an additional 40,822 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of RCI Hospitality by 2.0% during the 4th quarter. Renaissance Technologies LLC now owns 45,900 shares of the restaurant operator’s stock worth $2,638,000 after purchasing an additional 922 shares in the last quarter. Caption Management LLC purchased a new stake in shares of RCI Hospitality during the 4th quarter worth $1,685,000. Finally, Marshall Wace LLP purchased a new stake in shares of RCI Hospitality during the 4th quarter worth $1,498,000. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and set a $98.00 price target on shares of RCI Hospitality in a research note on Wednesday, April 9th.

RCI Hospitality Trading Down 2.0%

Shares of RICK stock opened at $36.41 on Thursday. The firm has a market cap of $318.95 million, a P/E ratio of 43.35 and a beta of 1.33. The firm’s 50-day simple moving average is $39.61 and its 200-day simple moving average is $43.97. RCI Hospitality Holdings, Inc. has a 1-year low of $35.00 and a 1-year high of $61.66. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.98 and a quick ratio of 0.88.

RCI Hospitality (NASDAQ:RICK) last released its quarterly earnings data on Monday, May 12th. The restaurant operator reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.39). The firm had revenue of $65.88 million during the quarter, compared to analysts’ expectations of $65.93 million. RCI Hospitality had a return on equity of 2.71% and a net margin of 2.53%. As a group, equities analysts forecast that RCI Hospitality Holdings, Inc. will post 4.55 EPS for the current year.

RCI Hospitality Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.07 per share. The ex-dividend date was Monday, June 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.77%. RCI Hospitality’s payout ratio is currently 33.33%.

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.