Reading International (RDI) Stock Rating Upgraded by Zacks Investment Research

Reading International (NASDAQ:RDI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “

RDI has been the subject of a number of other reports. BidaskClub downgraded Reading International from a “hold” rating to a “sell” rating in a research report on Friday, December 22nd. Gabelli started coverage on Reading International in a research report on Friday, December 1st. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $26.50.

Shares of Reading International (RDI) opened at $16.12 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.55 and a quick ratio of 1.55. Reading International has a 52-week low of $14.37 and a 52-week high of $17.43. The stock has a market capitalization of $371.08, a price-to-earnings ratio of 15.65 and a beta of 1.30.

Reading International (NASDAQ:RDI) last released its earnings results on Monday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). Reading International had a return on equity of 8.16% and a net margin of 8.70%. The firm had revenue of $66.09 million during the quarter, compared to analysts’ expectations of $65.70 million. equities analysts predict that Reading International will post 1.15 EPS for the current fiscal year.

In other news, insider James J. Cotter, Jr. sold 50,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $15.98, for a total value of $799,000.00. Following the completion of the transaction, the insider now directly owns 373,604 shares of the company’s stock, valued at $5,970,191.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.57% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its holdings in shares of Reading International by 1.0% in the second quarter. Renaissance Technologies LLC now owns 1,102,973 shares of the company’s stock worth $17,791,000 after acquiring an additional 10,473 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Reading International by 3.7% in the third quarter. Dimensional Fund Advisors LP now owns 915,315 shares of the company’s stock worth $14,389,000 after acquiring an additional 32,645 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Reading International by 1.6% in the second quarter. Vanguard Group Inc. now owns 545,573 shares of the company’s stock worth $8,800,000 after acquiring an additional 8,588 shares during the period. Teton Advisors Inc. boosted its holdings in shares of Reading International by 3.2% in the fourth quarter. Teton Advisors Inc. now owns 399,372 shares of the company’s stock worth $6,670,000 after acquiring an additional 12,200 shares during the period. Finally, Eidelman Virant Capital boosted its holdings in shares of Reading International by 5.6% in the fourth quarter. Eidelman Virant Capital now owns 398,750 shares of the company’s stock worth $6,659,000 after acquiring an additional 21,100 shares during the period. 35.11% of the stock is owned by hedge funds and other institutional investors.

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About Reading International

Reading International, Inc (RDI) is engaged in the development, ownership and operation of multiplex cinemas in the United States, Australia, and New Zealand, and the development, ownership and operation of retail and commercial real estate in the United States, Australia and New Zealand. RDI operates through two segments: cinema exhibition and real estate.

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