Insider Selling: Reading International, Inc. (RDI) Insider Sells $420,000.00 in Stock

Reading International, Inc. (NASDAQ:RDI) insider James J. Cotter, Jr. sold 25,000 shares of the company’s 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 transaction, the insider now directly 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 Securities & Exchange Commission, which is available through the SEC website.

Shares of Reading International, Inc. (NASDAQ RDI) opened at $16.12 on Monday. The firm has a market cap of $368.57, a P/E ratio of 12.12 and a beta of 1.26. The company has a current ratio of 0.63, a quick ratio of 1.55 and a debt-to-equity ratio of 0.68. Reading International, Inc. has a 52-week low of $14.37 and a 52-week high of $17.50.

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Reading International (NASDAQ:RDI) last released its earnings results on Friday, March 16th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). The firm had revenue of $71.78 million for the quarter, compared to analyst estimates of $77.50 million. Reading International had a net margin of 11.08% and a return on equity of 8.22%. equities research analysts forecast that Reading International, Inc. will post 0.56 earnings per share for the current fiscal year.

Several research analysts have recently issued reports on RDI shares. Gabelli started coverage on Reading International in a research note on Friday, December 1st. They issued a “buy” rating for the company. B. Riley lowered their price objective on Reading International from $26.50 to $23.50 and set a “buy” rating for the company in a research note on Thursday. Zacks Investment Research raised Reading International from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, BidaskClub downgraded Reading International from a “hold” rating to a “sell” rating in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $23.50.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Reading International by 3.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 915,315 shares of the company’s stock valued at $14,389,000 after purchasing an additional 32,645 shares during the period. BlackRock Inc. increased its position in Reading International by 1.5% during the 4th quarter. BlackRock Inc. now owns 808,913 shares of the company’s stock valued at $13,508,000 after purchasing an additional 12,293 shares during the period. Vanguard Group Inc. increased its position in Reading International by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 545,573 shares of the company’s stock valued at $8,800,000 after purchasing an additional 8,588 shares during the period. Wittenberg Investment Management Inc. increased its position in Reading International by 2.7% during the 4th quarter. Wittenberg Investment Management Inc. now owns 508,714 shares of the company’s stock valued at $8,496,000 after purchasing an additional 13,298 shares during the period. Finally, Teton Advisors Inc. increased its position in Reading International by 3.2% during the 4th quarter. Teton Advisors Inc. now owns 399,372 shares of the company’s stock valued at $6,670,000 after purchasing an additional 12,200 shares during the period. 36.49% of the stock is owned by institutional investors and hedge funds.

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About Reading International

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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