Reading International Inc (RDI) Upgraded by Zacks Investment Research to “Hold”
Reading International Inc (NASDAQ:RDI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “
A number of other equities research analysts have also weighed in on RDI. B. Riley restated a “buy” rating and set a $26.50 price target on shares of Reading International in a research note on Monday, May 15th. TheStreet upgraded Reading International from a “c+” rating to a “b” rating in a research note on Friday, June 2nd.
Reading International (NASDAQ RDI) opened at 15.48 on Tuesday. Reading International has a 1-year low of $12.54 and a 1-year high of $17.18. The company has a market cap of $358.87 million, a PE ratio of 35.34 and a beta of 1.33. The firm’s 50-day moving average is $15.92 and its 200 day moving average is $15.83.
Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. Reading International had a return on equity of 7.69% and a net margin of 3.71%. The business had revenue of $69.45 million for the quarter, compared to analyst estimates of $71.80 million. Analysts predict that Reading International will post $0.61 earnings per share for the current fiscal year.
In related news, insider James J. Cotter, Jr. sold 5,112 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $15.51, for a total value of $79,287.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 26.75% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of RDI. SG Americas Securities LLC purchased a new stake in shares of Reading International during the first quarter worth approximately $103,000. American International Group Inc. raised its stake in shares of Reading International by 7.2% in the first quarter. American International Group Inc. now owns 10,368 shares of the company’s stock worth $161,000 after buying an additional 695 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Reading International by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 10,725 shares of the company’s stock worth $167,000 after buying an additional 521 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Reading International during the first quarter worth approximately $218,000. Finally, B. Riley Financial Inc. purchased a new stake in shares of Reading International during the third quarter worth approximately $233,000. Hedge funds and other institutional investors own 31.58% of the company’s stock.
Reading International Company Profile
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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