Zacks Investment Research Upgrades Reading International (RDI) 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 Friday.

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

RDI has been the topic of a number of other research reports. BidaskClub lowered Reading International from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Gabelli assumed coverage on Reading International in a report on Friday, December 1st. They set a “buy” rating on the stock. One investment 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. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.50.

Reading International (RDI) opened at $16.12 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.55 and a current ratio of 1.55. The company has a market capitalization of $371.08, a PE ratio of 15.65 and a beta of 1.30. Reading International has a fifty-two week low of $14.37 and a fifty-two week high of $17.43.

Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.07 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 net margin of 8.70% and a return on equity of 8.16%. analysts expect that Reading International will post 1.15 earnings per share for the current year.

In other Reading International news, insider James J. Cotter, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $15.98, for a total value of $799,000.00. Following the sale, the insider now 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.57% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in Reading International by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 12,258 shares of the company’s stock valued at $198,000 after buying an additional 312 shares during the last quarter. Nationwide Fund Advisors grew its holdings in Reading International by 14.6% in the 2nd quarter. Nationwide Fund Advisors now owns 13,357 shares of the company’s stock valued at $215,000 after buying an additional 1,700 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in Reading International by 3.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 53,501 shares of the company’s stock valued at $863,000 after buying an additional 1,924 shares during the last quarter. Teachers Advisors LLC grew its holdings in Reading International by 9.3% in the 2nd quarter. Teachers Advisors LLC now owns 30,036 shares of the company’s stock valued at $484,000 after buying an additional 2,545 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Reading International by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 73,763 shares of the company’s stock valued at $1,190,000 after buying an additional 2,624 shares during the last quarter. 35.11% of the stock is currently owned by hedge funds and other institutional investors.

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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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