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Elaine Johnson Martin, a director at RCI Hospitality Holdings, Inc. (NASDAQ:RICK), recently acquired 106 shares of the company’s common stock. The shares were purchased on March 13, 2025, at a price of $44 each, amounting to a total investment of $4,664. According to InvestingPro data, this insider purchase comes as the stock trades significantly below its Fair Value, with management actively buying back shares. Following this transaction, Martin holds a total of 11,751 shares in the company. RCI Hospitality, headquartered in Houston, Texas, operates in the retail-eating places sector. The company maintains impressive gross profit margins of 85% and has consistently paid dividends for 10 consecutive years. InvestingPro analysis reveals 12 additional key insights about RICK’s performance and outlook, available in the comprehensive Pro Research Report.
In other recent news, RCI Hospitality Holdings reported mixed fiscal first-quarter sales results, with its nightclub segment showing growth while its Bombshells restaurant chain experienced a decline. Nightclub sales increased to $61.3 million, marking a 1.2% rise compared to the same period last year, driven by the performance of newly opened or reformatted clubs in Texas. However, Bombshells saw a 24.7% drop in sales, attributed to the closure of underperforming locations. Overall, combined sales for RCI’s nightclubs and Bombshells totaled $70.9 million, a 3.3% decrease from the previous year.
Additionally, RCI Hospitality recently completed the acquisition of Flight Club, a gentlemen’s club in Detroit, for $11 million. This acquisition is expected to contribute approximately $2 million to the company’s annualized adjusted EBITDA. On the analyst front, H.C. Wainwright maintained a Buy rating for RCI Hospitality with a $98 price target, citing optimism about the revenue potential of new restaurant properties opening in 2025. The firm encouraged investors to consider building positions in anticipation of improved operational performance.
Furthermore, RCI Hospitality announced a change in its independent registered public accounting firm to CBIZ (NYSE:CBZ) CPAs P.C., following the acquisition of Marcum LLP’s attest business. This transition does not reflect any disputes with Marcum’s audit work. Lastly, the company declared a quarterly cash dividend of $0.07 per share for its fiscal 2025 second quarter, continuing its practice of consistent dividend payouts.
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