BidaskClub Downgrades Reading International (RDI) to Strong Sell

BidaskClub downgraded shares of Reading International (NASDAQ:RDI) from a sell rating to a strong sell rating in a research report released on Friday morning.

A number of other research firms have also weighed in on RDI. Zacks Investment Research upgraded Reading International from a hold rating to a buy rating and set a $18.00 price objective for the company in a research note on Saturday, August 18th. B. Riley reiterated a buy rating on shares of Reading International in a research note on Tuesday, September 4th. Finally, TheStreet lowered Reading International from a b- rating to a c rating in a research note on Thursday, November 15th.

NASDAQ RDI opened at $15.09 on Friday. The stock has a market cap of $351.45 million, a price-to-earnings ratio of 11.62 and a beta of 1.36. Reading International has a fifty-two week low of $13.91 and a fifty-two week high of $17.50. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.89.

Reading International (NASDAQ:RDI) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $74.26 million during the quarter, compared to analyst estimates of $70.40 million. Reading International had a return on equity of 6.57% and a net margin of 5.46%. Analysts forecast that Reading International will post 0.51 EPS for the current year.

In other Reading International news, insider Margaret Cotter sold 3,500 shares of Reading International stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $15.67, for a total transaction of $54,845.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 26.95% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Reading International by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 675,778 shares of the company’s stock valued at $10,677,000 after acquiring an additional 10,331 shares during the period. MetLife Investment Advisors LLC grew its position in shares of Reading International by 60.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 13,679 shares of the company’s stock valued at $216,000 after acquiring an additional 5,175 shares during the period. First Foundation Advisors acquired a new stake in shares of Reading International during the 3rd quarter valued at about $508,000. Dimensional Fund Advisors LP grew its position in shares of Reading International by 4.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,149,994 shares of the company’s stock valued at $18,170,000 after acquiring an additional 50,668 shares during the period. Finally, Walthausen & Co. LLC acquired a new stake in shares of Reading International during the 3rd quarter valued at about $759,000. Hedge funds and other institutional investors own 39.24% of the company’s stock.

About Reading International

Reading International, Inc engages in the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Theatrical Motion Picture Exhibition (Cinema Exhibition) and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.

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