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RICK - Another Year Another Late 10-K At RCI Hospitality
RCI Hospitality Holdings Inc.
2019 has not been the best year on record for RCI Hospitality (RICK). Shares are down more than 8% YTD, with the stock dramatically underperforming the S&P 500 (SPY), with has returned just shy of 29%. I exposed several potential SEC violations in October of 2018, and it was announced the SEC was formally investigating RCI in September of 2019.
Over the last quarter, the company touted yet another bargain transaction in the nightclubs space and reported lackluster Q4 performance with Nightclub comps falling even as the company recorded growth