New York Life Investment Management LLC Invests $478,000 in RCI Hospitality Holdings Inc (NASDAQ:RICK)

Posted by Defense World Staff on Aug 17th, 2023

New York Life Investment Management LLC acquired a new position in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK – Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,115 shares of the restaurant operator’s stock, valued at approximately $478,000. New York Life Investment Management LLC owned about 0.07% of RCI Hospitality at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Barclays PLC lifted its position in shares of RCI Hospitality by 88.4% during the 1st quarter. Barclays PLC now owns 4,355 shares of the restaurant operator’s stock worth $341,000 after buying an additional 2,043 shares during the last quarter. Jump Financial LLC increased its stake in RCI Hospitality by 46.9% in the 1st quarter. Jump Financial LLC now owns 12,019 shares of the restaurant operator’s stock valued at $940,000 after buying an additional 3,838 shares during the period. Krilogy Financial LLC acquired a new position in RCI Hospitality in the 1st quarter valued at $313,000. Strs Ohio acquired a new position in RCI Hospitality in the 1st quarter valued at $492,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in RCI Hospitality in the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 43.82% of the company’s stock.

RCI Hospitality Stock Performance

NASDAQ:RICK opened at $65.93 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.78 and a debt-to-equity ratio of 0.78. RCI Hospitality Holdings Inc has a fifty-two week low of $61.49 and a fifty-two week high of $97.45. The stock has a market cap of $621.06 million, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.21 and a beta of 1.63. The firm’s fifty day simple moving average is $72.42 and its 200-day simple moving average is $76.88.

RCI Hospitality Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 14th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.36%. RCI Hospitality’s dividend payout ratio (DPR) is presently 5.93%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on RICK shares. StockNews.com started coverage on shares of RCI Hospitality in a research note on Thursday. They issued a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $126.00 price objective on shares of RCI Hospitality in a research note on Friday, August 11th. Finally, Noble Financial dropped their price objective on shares of RCI Hospitality from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Monday.

Check Out Our Latest Report on RICK

RCI Hospitality Company Profile

(Free Report)

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.