B. Riley Reiterates Buy Rating for Reading International Inc. (RDI)
Reading International Inc. (NASDAQ:RDI)‘s stock had its “buy” rating reissued by equities research analysts at B. Riley in a report issued on Thursday. They presently have a $26.00 target price on the stock. B. Riley’s price target would indicate a potential upside of 92.59% from the company’s previous close.
Shares of Reading International (NASDAQ:RDI) traded up 0.22% during midday trading on Thursday, reaching $13.53. The company had a trading volume of 9,900 shares. The company’s 50-day moving average is $13.46 and its 200-day moving average is $12.94. The firm has a market cap of $315.71 million, a P/E ratio of 35.61 and a beta of 0.61. Reading International has a 52-week low of $9.71 and a 52-week high of $17.31.
Reading International (NASDAQ:RDI) last issued its earnings results on Tuesday, August 9th. The company reported $0.13 EPS for the quarter. Reading International had a return on equity of 6.43% and a net margin of 3.46%. The business earned $66.90 million during the quarter, compared to analyst estimates of $61 million.
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In other Reading International news, insider James J. Cotter, Jr. sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $13.54, for a total transaction of $812,400.00. Following the completion of the sale, the insider now directly owns 595,186 shares of the company’s stock, valued at approximately $8,058,818.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James J. Cotter, Jr. sold 118,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $12.88, for a total value of $1,519,840.00. Following the sale, the insider now directly owns 745,186 shares of the company’s stock, valued at $9,597,995.68. The disclosure for this sale can be found here. 26.75% of the stock is owned by corporate insiders.
Reading International Company Profile
Reading International, Inc (RDI) is focused on the development, ownership and operation of multiplex cinemas, and retail and commercial real estate in the United States, Australia and New Zealand. The Company operates through two segments: cinema exhibition and real estate. The cinema exhibition segment operates multiplex cinemas.
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