Reading International (RDI) Downgraded to Strong Sell at BidaskClub

Reading International (NASDAQ:RDI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Thursday.

RDI has been the subject of a number of other research reports. Zacks Investment Research lowered Reading International from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Gabelli initiated coverage on Reading International in a research report on Friday, December 1st. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Reading International currently has a consensus rating of “Hold” and a consensus price target of $26.50.

Reading International (NASDAQ RDI) opened at $16.62 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.55 and a current ratio of 1.55. Reading International has a 12-month low of $14.37 and a 12-month high of $17.29. The stock has a market capitalization of $379.77, a price-to-earnings ratio of 16.14 and a beta of 1.30.

Reading International (NASDAQ:RDI) last announced its quarterly 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 3.67% and a net margin of 2.00%. The business had revenue of $66.09 million for the quarter, compared to analyst estimates of $65.70 million. sell-side analysts expect that Reading International will post 1.15 earnings per share for the current fiscal year.

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

Several institutional investors have recently made changes to their positions in RDI. Van Den Berg Management I Inc. lifted 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 buying an additional 105,897 shares during the period. Eidelman Virant Capital lifted 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 buying an additional 91,850 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Reading International by 123.5% in the third quarter. Gabelli Funds LLC now owns 84,373 shares of the company’s stock valued at $1,326,000 after buying an additional 46,623 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Reading International by 52.7% in the third quarter. Gamco Investors INC. ET AL now owns 112,382 shares of the company’s stock valued at $1,767,000 after buying an additional 38,800 shares during the period. Finally, Dimensional Fund Advisors LP lifted 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 valued at $14,389,000 after buying an additional 32,645 shares during the period. Institutional investors and hedge funds own 35.17% of the company’s stock.

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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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