Zacks Investment Research upgraded shares of Reading International (NASDAQ:RDI) from a sell rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “
Several other research analysts have also recently issued reports on RDI. BidaskClub raised Reading International from a strong sell rating to a sell rating in a research report on Saturday. Gabelli initiated coverage on Reading International in a research report on Friday, December 1st. They set a buy rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $26.50.
In other news, insider James J. Cotter, Jr. sold 50,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $15.98, for a total value of $799,000.00. Following the completion of the sale, the insider now directly owns 373,604 shares of the company’s stock, valued at approximately $5,970,191.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.57% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of RDI. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Reading International in the 4th quarter valued at about $106,000. MetLife Investment Advisors LLC purchased a new stake in shares of Reading International in the 4th quarter valued at about $142,000. JPMorgan Chase & Co. lifted its holdings in shares of Reading International by 771.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,260 shares of the company’s stock valued at $146,000 after purchasing an additional 8,197 shares during the last quarter. Alliancebernstein L.P. purchased a new stake in Reading International during the 2nd quarter valued at approximately $165,000. Finally, Ausdal Financial Partners Inc. purchased a new stake in Reading International during the 3rd quarter valued at approximately $173,000. 36.74% of the stock is owned by institutional investors and hedge funds.
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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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