Reading International (RDI) Upgraded by Zacks Investment Research to Hold

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

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

Other equities analysts have also recently issued reports about the stock. Gabelli started coverage on shares of Reading International in a research report on Friday, December 1st. They set a “buy” rating for the company. BidaskClub lowered shares of Reading International from a “buy” rating to a “hold” rating in a report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.50.

Shares of Reading International (NASDAQ:RDI) traded up $0.22 during trading hours on Tuesday, hitting $17.01. 40,900 shares of the stock traded hands, compared to its average volume of 48,544. The firm has a market cap of $405.82, a PE ratio of 16.68 and a beta of 1.30. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.80. Reading International has a one year low of $14.37 and a one year high of $17.23.

Reading International (NASDAQ:RDI) last released its quarterly earnings data 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). The company had revenue of $66.09 million for the quarter, compared to analyst estimates of $65.70 million. Reading International had a return on equity of 8.16% and a net margin of 8.70%. sell-side analysts forecast 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 company’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $15.98, for a total value of $799,000.00. Following the sale, the insider now directly owns 373,604 shares of the company’s stock, valued at approximately $5,970,191.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 25.57% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. ARS Investment Partners LLC acquired a new position in Reading International during the fourth quarter worth $6,233,000. Van Den Berg Management I Inc. raised its holdings in shares of Reading International by 56.0% in the third quarter. Van Den Berg Management I Inc. now owns 295,085 shares of the company’s stock valued at $4,639,000 after purchasing an additional 105,897 shares during the last quarter. Eidelman Virant Capital raised its holdings in shares of Reading International by 32.1% in the third quarter. Eidelman Virant Capital now owns 377,650 shares of the company’s stock valued at $5,936,000 after purchasing an additional 91,850 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Reading International in the fourth quarter valued at about $1,290,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Reading International by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,094,400 shares of the company’s stock valued at $18,167,000 after purchasing an additional 73,300 shares during the last quarter. 35.17% of the stock is currently owned by institutional investors and hedge funds.

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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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