TIAA CREF Investment Management LLC boosted its stake in RCI Hospitality Holdings Inc (NASDAQ:RICK) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 35,845 shares of the restaurant operator’s stock after acquiring an additional 457 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in RCI Hospitality were worth $1,061,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its stake in RCI Hospitality by 11.4% in the 2nd quarter. BlackRock Inc. now owns 468,991 shares of the restaurant operator’s stock worth $14,842,000 after purchasing an additional 47,846 shares during the period. Algert Global LLC bought a new stake in shares of RCI Hospitality during the 3rd quarter valued at about $204,000. Vanguard Group Inc boosted its position in shares of RCI Hospitality by 4.8% during the 3rd quarter. Vanguard Group Inc now owns 466,172 shares of the restaurant operator’s stock valued at $13,804,000 after acquiring an additional 21,538 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of RCI Hospitality by 18.3% during the 3rd quarter. Panagora Asset Management Inc. now owns 67,924 shares of the restaurant operator’s stock valued at $2,011,000 after acquiring an additional 10,505 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of RCI Hospitality by 1.7% during the 2nd quarter. Northern Trust Corp now owns 125,890 shares of the restaurant operator’s stock valued at $3,984,000 after acquiring an additional 2,101 shares during the last quarter. Institutional investors and hedge funds own 48.26% of the company’s stock.

Shares of RICK traded up $0.11 during trading hours on Monday, reaching $22.78. 50 shares of the company’s stock traded hands, compared to its average volume of 41,746. The company has a market cap of $221.26 million, a PE ratio of 10.31 and a beta of 0.86. The company has a current ratio of 1.09, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. RCI Hospitality Holdings Inc has a 12 month low of $18.50 and a 12 month high of $34.84.

RCI Hospitality (NASDAQ:RICK) last issued its quarterly earnings results on Monday, December 31st. The restaurant operator reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.05). The business had revenue of $40.68 million for the quarter, compared to the consensus estimate of $40.96 million. RCI Hospitality had a net margin of 13.10% and a return on equity of 13.75%. As a group, analysts predict that RCI Hospitality Holdings Inc will post 2.35 earnings per share for the current year.

RCI Hospitality declared that its Board of Directors has approved a share buyback program on Thursday, January 3rd that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the restaurant operator to purchase up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages have recently issued reports on RICK. Westpark Capital set a $34.00 price target on RCI Hospitality and gave the company a “buy” rating in a research report on Wednesday, October 17th. Zacks Investment Research downgraded RCI Hospitality from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. BidaskClub downgraded RCI Hospitality from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Finally, ValuEngine downgraded RCI Hospitality from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 11th. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $36.00.

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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 owns 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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Institutional Ownership by Quarter for RCI Hospitality (NASDAQ:RICK)

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