Reading International (NASDAQ:RDI) – Research analysts at B. Riley decreased their Q2 2018 earnings estimates for Reading International in a research report issued on Wednesday, May 16th. B. Riley analyst E. Wold now forecasts that the company will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.23. B. Riley currently has a “Buy” rating and a $23.50 target price on the stock. B. Riley also issued estimates for Reading International’s Q3 2018 earnings at $0.07 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.20 EPS and FY2019 earnings at $0.71 EPS.
Several other research firms have also recently weighed in on RDI. Zacks Investment Research raised shares of Reading International from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. BidaskClub raised shares of Reading International from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. Reading International presently has an average rating of “Hold” and an average target price of $23.50.
Reading International (NASDAQ:RDI) last released its quarterly earnings data on Thursday, May 10th. The company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $75.82 million during the quarter, compared to the consensus estimate of $70.40 million. Reading International had a net margin of 10.84% and a return on equity of 7.90%.
In other news, insider James J. Cotter, Jr. sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $16.80, for a total value of $420,000.00. Following the completion of the sale, the insider now owns 352,987 shares of the company’s stock, valued at approximately $5,930,181.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James J. Cotter, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, March 23rd. The stock was sold at an average price of $16.54, for a total transaction of $248,100.00. Following the transaction, the insider now directly owns 352,987 shares of the company’s stock, valued at approximately $5,838,404.98. The disclosure for this sale can be found here. Corporate insiders own 25.57% of the company’s stock.
Several large investors have recently bought and sold shares of RDI. JPMorgan Chase & Co. boosted its position in shares of Reading International by 771.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,260 shares of the company’s stock worth $146,000 after purchasing an additional 8,197 shares during the period. Wells Fargo & Company MN boosted its position in shares of Reading International by 55.4% during the 3rd quarter. Wells Fargo & Company MN now owns 19,053 shares of the company’s stock worth $300,000 after purchasing an additional 6,795 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Reading International by 3.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 915,315 shares of the company’s stock worth $14,389,000 after purchasing an additional 32,645 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Reading International by 35.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 31,200 shares of the company’s stock worth $522,000 after purchasing an additional 8,200 shares during the period. Finally, Yacktman Asset Management LP boosted its position in shares of Reading International by 83.0% during the 4th quarter. Yacktman Asset Management LP now owns 93,310 shares of the company’s stock worth $1,558,000 after purchasing an additional 42,310 shares during the period. 35.93% of the stock is owned by hedge funds and other institutional investors.
Reading International Company Profile
Reading International, Inc engages in the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Theatrical Motion Picture Exhibition (Cinema Exhibition) and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.
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