Reading International (RDI) Stock Rating Lowered by BidaskClub

Reading International (NASDAQ:RDI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday.

A number of other brokerages also recently weighed in on RDI. Zacks Investment Research upgraded Reading International from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, August 18th. B. Riley reiterated a “buy” rating on shares of Reading International in a report on Tuesday, September 4th.

Shares of NASDAQ RDI opened at $14.93 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $344.14 million, a P/E ratio of 28.25 and a beta of 1.35. Reading International has a 52-week low of $14.37 and a 52-week high of $17.50.

Reading International (NASDAQ:RDI) last issued its earnings results on Thursday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. The business had revenue of $84.22 million for the quarter, compared to analysts’ expectations of $88.40 million. Reading International had a return on equity of 6.76% and a net margin of 5.70%. As a group, research analysts expect that Reading International will post 0.5 EPS for the current fiscal year.

In other news, insider James J. Cotter, Jr. sold 9,400 shares of Reading International stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $16.18, for a total transaction of $152,092.00. Following the transaction, the insider now owns 298,587 shares in the company, valued at $4,831,137.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Margaret Cotter sold 3,500 shares of Reading International stock in a transaction on Friday, September 21st. The shares were sold at an average price of $15.67, for a total value of $54,845.00. The disclosure for this sale can be found here. Insiders own 26.95% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Eidelman Virant Capital grew its stake in Reading International by 2.2% in the third quarter. Eidelman Virant Capital now owns 461,300 shares of the company’s stock valued at $7,288,000 after purchasing an additional 10,050 shares in the last quarter. Northern Trust Corp grew its stake in Reading International by 1.8% in the second quarter. Northern Trust Corp now owns 202,979 shares of the company’s stock valued at $3,237,000 after purchasing an additional 3,622 shares in the last quarter. California Public Employees Retirement System grew its stake in Reading International by 6.6% in the second quarter. California Public Employees Retirement System now owns 59,617 shares of the company’s stock valued at $951,000 after purchasing an additional 3,712 shares in the last quarter. PEAK6 Investments L.P. grew its stake in Reading International by 36.1% in the second quarter. PEAK6 Investments L.P. now owns 40,811 shares of the company’s stock valued at $651,000 after purchasing an additional 10,835 shares in the last quarter. Finally, Teton Advisors Inc. grew its stake in Reading International by 15.4% in the second quarter. Teton Advisors Inc. now owns 487,852 shares of the company’s stock valued at $7,781,000 after purchasing an additional 65,180 shares in the last quarter. Institutional investors and hedge funds own 38.34% of the company’s stock.

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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