Reading International (NASDAQ:RDI) Upgraded by BidaskClub to Hold

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BidaskClub upgraded shares of Reading International (NASDAQ:RDI) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on RDI. Zacks Investment Research upgraded shares of Reading International from a strong sell rating to a hold rating in a report on Wednesday, July 17th. ValuEngine upgraded shares of Reading International from a hold rating to a buy rating in a report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $19.00.

Reading International stock opened at $13.56 on Thursday. The firm has a 50-day moving average price of $12.41 and a 200-day moving average price of $14.03. The firm has a market capitalization of $305.59 million, a PE ratio of 21.87 and a beta of 1.14. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 2.03. Reading International has a 12-month low of $11.50 and a 12-month high of $16.72.

Reading International (NASDAQ:RDI) last released its earnings results on Friday, August 9th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.11). The firm had revenue of $76.10 million during the quarter, compared to the consensus estimate of $88.50 million. Reading International had a return on equity of 3.66% and a net margin of 2.29%.

In related news, insider Margaret Cotter sold 7,500 shares of Reading International stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $13.35, for a total transaction of $100,125.00. Following the completion of the sale, the insider now owns 801,362 shares in the company, valued at approximately $10,698,182.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 25.66% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RDI. Dimensional Fund Advisors LP increased its position in Reading International by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,166,668 shares of the company’s stock valued at $16,963,000 after purchasing an additional 16,674 shares during the period. Renaissance Technologies LLC increased its position in Reading International by 0.4% during the 2nd quarter. Renaissance Technologies LLC now owns 839,990 shares of the company’s stock valued at $10,903,000 after purchasing an additional 3,000 shares during the period. Vanguard Group Inc. increased its position in Reading International by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 692,180 shares of the company’s stock valued at $8,984,000 after purchasing an additional 6,925 shares during the period. Wittenberg Investment Management Inc. increased its position in Reading International by 1.5% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 562,922 shares of the company’s stock valued at $7,307,000 after purchasing an additional 8,251 shares during the period. Finally, Teton Advisors Inc. increased its position in Reading International by 3.6% during the 2nd quarter. Teton Advisors Inc. now owns 525,269 shares of the company’s stock valued at $6,818,000 after purchasing an additional 18,417 shares during the period. Institutional investors own 39.68% of the company’s stock.

About Reading International

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.

See Also: Exchange-Traded Funds (ETFs)

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