Shares of Reading International, Inc. (NASDAQ:RDI) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.00.
RDI has been the subject of several research reports. BidaskClub raised Reading International from a “sell” rating to a “hold” rating in a research report on Wednesday, March 27th. Zacks Investment Research cut Reading International from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th.
In other news, insider Margaret Cotter sold 13,995 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $16.03, for a total value of $224,339.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 32,500 shares of company stock valued at $469,521 over the last three months. 25.66% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RDI. BNP Paribas Arbitrage SA raised its stake in Reading International by 511.5% during the first quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock worth $56,000 after acquiring an additional 2,941 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Reading International by 448.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,330 shares of the company’s stock worth $92,000 after acquiring an additional 5,175 shares in the last quarter. Legacy Advisors LLC acquired a new position in Reading International during the first quarter worth $117,000. LPL Financial LLC acquired a new position in Reading International during the fourth quarter worth $160,000. Finally, Bank of America Corp DE raised its stake in Reading International by 75.0% during the fourth quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock worth $171,000 after acquiring an additional 5,035 shares in the last quarter. Institutional investors and hedge funds own 39.61% of the company’s stock.
RDI opened at $13.17 on Thursday. Reading International has a 1-year low of $12.75 and a 1-year high of $16.72. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market capitalization of $306.38 million, a PE ratio of 21.24 and a beta of 1.24.
Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.17). Reading International had a net margin of 3.11% and a return on equity of 5.09%. The business had revenue of $61.55 million during the quarter, compared to the consensus estimate of $65.60 million. As a group, sell-side analysts predict that Reading International will post 0.44 EPS for the current year.
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, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.
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