Author Topic: RICK - RCI Hospitality  (Read 28517 times)

Spekulatius

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Re: RICK - RCI Hospitality
« Reply #80 on: March 13, 2020, 05:50:48 PM »
I'm kidding dude, I'm a long time hater on this company and I just bumped the thread to have some fun. I cannot believe that some of the people here were buying this thing at 10x peak earnings with all of the serious ethical/moral/legal problems both inherent in the business model and specific to the personalities at the top.

What I think happened:

Retail investors + an aggressive IR outreach campaign* + a belief that CEO had found capital allocation "religion" + a lack of awareness of management's shenanigans. Presumably no one buying this knew about the Houston single family houses or the aircraft fetish


* Maybe the only company I have ever contacted that immediately emailed me back and, unprompted, wanted to set up a phone call.

Got to watch the bouncer and the pimp closely if you own a titty bar.
Life is too short for cheap beer and wine.


DooDiligence

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Re: RICK - RCI Hospitality
« Reply #81 on: March 13, 2020, 08:36:45 PM »
Even I couldn't get past the smell on this one.
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Foreign Tuffett

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Re: RICK - RCI Hospitality
« Reply #83 on: May 15, 2020, 03:17:58 PM »
COB&F's favorite concentrated activist fund ADW Capital the proud owner of 175,400 RICK shares as of 3/31

https://www.sec.gov/Archives/edgar/data/1745214/000138713120004810/xslForm13F_X01/infotable.xml

I suppose management's history of capital allocation shenanigans and the share ownership structure means this could be an activist target
BUT
Langan and his buddies have been running the company as their personal fiefdom for over 20 years. Given that, and the....exotic nature of the business, I can't imagine trying to replace management. For better or worse Langan and friends are the only ones who know where all the bodies are buried.   
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Jurgis

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Re: RICK - RCI Hospitality
« Reply #84 on: May 15, 2020, 10:32:26 PM »
For better or worse Langan and friends are the only ones who know where all the bodies are buried.   

I thought all the bodies were actually in the open.  8)
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capitalg

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Re: RICK - RCI Hospitality
« Reply #85 on: May 16, 2020, 08:33:46 AM »
COB&F's favorite concentrated activist fund ADW Capital the proud owner of 175,400 RICK shares as of 3/31

https://www.sec.gov/Archives/edgar/data/1745214/000138713120004810/xslForm13F_X01/infotable.xml

I suppose management's history of capital allocation shenanigans and the share ownership structure means this could be an activist target
BUT
Langan and his buddies have been running the company as their personal fiefdom for over 20 years. Given that, and the....exotic nature of the business, I can't imagine trying to replace management. For better or worse Langan and friends are the only ones who know where all the bodies are buried.   

Interesting that the ADW 13F filing down to two positions worth about $3.1M.  I'm not sure I fully understand 13F reporting requirements (although I believe certain investments - like foreign securities - may be excluded), but this is substantially smaller than what they had reported in the past.

johnny

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Re: RICK - RCI Hospitality
« Reply #86 on: July 08, 2020, 06:27:08 PM »
You'll never believe what happened to this manager

By the way, has anybody figured out how to model the risk you're accepting when your store managers are openly posting about rawdogging the staff?
« Last Edit: July 08, 2020, 06:29:25 PM by johnny »

whatdadil9

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Re: RICK - RCI Hospitality
« Reply #87 on: October 07, 2020, 04:38:04 PM »
What happened to him? I heard heís having a pretty good
2020 and Bloomberg is reporting ~150 mm doesnít include pinks, foreigns, options/swaps, cash or shorts FWIW.