Lazard Asset Management LLC raised its stake in shares of RCI Hospitality Holdings Inc (NASDAQ:RICK – Get Rating) by 123.8% in the second quarter, Holdings Channel.com reports. The fund owned 2,527 shares of the restaurant operator’s stock after purchasing an additional 1,398 shares during the period. Lazard Asset Management LLC’s holdings in RCI Hospitality were worth $122,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in RICK. Point72 Hong Kong Ltd acquired a new stake in shares of RCI Hospitality during the first quarter valued at about $27,000. Cannell Capital LLC purchased a new position in shares of RCI Hospitality in the first quarter valued at approximately $28,000. Covestor Ltd purchased a new position in shares of RCI Hospitality in the first quarter valued at approximately $41,000. SJS Investment Consulting Inc. purchased a new position in shares of RCI Hospitality in the first quarter valued at approximately $49,000. Finally, Amalgamated Bank purchased a new position in shares of RCI Hospitality in the first quarter valued at approximately $84,000. 55.76% of the stock is currently owned by institutional investors and hedge funds.
RCI Hospitality Trading Up 2.9 %
NASDAQ RICK opened at $89.07 on Wednesday. The firm has a 50 day simple moving average of $75.63 and a 200-day simple moving average of $64.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.69. RCI Hospitality Holdings Inc has a one year low of $46.49 and a one year high of $94.33. The firm has a market cap of $827.46 million, a price-to-earnings ratio of 22.21, a PEG ratio of 1.25 and a beta of 1.78.
RCI Hospitality Announces Dividend
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on shares of RCI Hospitality in a research note on Wednesday, October 12th. They issued a “buy” rating for the company.
About RCI Hospitality
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.
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