Reading International, Inc. (RDI) Insider Sells $248,100.00 in Stock

Reading International, Inc. (NASDAQ:RDI) insider James J. Cotter, Jr. sold 15,000 shares of Reading International 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 completion of the transaction, the insider now owns 352,987 shares of the company’s stock, valued at approximately $5,838,404.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Reading International, Inc. (NASDAQ RDI) traded down $0.58 during trading hours on Friday, hitting $16.12. 71,744 shares of the stock traded hands, compared to its average volume of 43,288. The stock has a market cap of $379.54, a P/E ratio of 12.12 and a beta of 1.26. The company has a quick ratio of 1.55, a current ratio of 0.63 and a debt-to-equity ratio of 0.68. Reading International, Inc. has a twelve month low of $14.37 and a twelve month high of $17.50.

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Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Friday, March 16th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The company had revenue of $71.78 million for the quarter, compared to analysts’ expectations of $77.50 million. Reading International had a return on equity of 8.22% and a net margin of 11.08%.

Several brokerages have recently weighed in on RDI. B. Riley reduced their price objective on shares of Reading International from $26.50 to $23.50 and set a “buy” rating for the company in a research report on Thursday. BidaskClub upgraded shares of Reading International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research downgraded shares of Reading International from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.50.

Several large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new stake in shares of Reading International during the 4th quarter worth approximately $142,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Reading International during the 4th quarter worth approximately $383,000. Metropolitan Life Insurance Co. NY purchased a new stake in shares of Reading International during the 4th quarter worth approximately $106,000. PEAK6 Investments L.P. purchased a new stake in shares of Reading International during the 4th quarter worth approximately $426,000. Finally, Deutsche Bank AG lifted its position in shares of Reading International by 46.2% during the 4th quarter. Deutsche Bank AG now owns 57,469 shares of the company’s stock worth $957,000 after buying an additional 18,148 shares during the last quarter. Institutional investors and hedge funds own 36.49% of the company’s stock.

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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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