Reading International (RDI) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of Reading International (NASDAQ:RDI) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.

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

Shares of NASDAQ:RDI opened at $15.29 on Tuesday. Reading International has a 52 week low of $13.91 and a 52 week high of $17.50. 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 $329.89 million, a PE ratio of 11.76 and a beta of 1.38.

Reading International (NASDAQ:RDI) last issued its earnings results on Thursday, August 9th. The company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.05. Reading International had a net margin of 5.70% and a return on equity of 6.76%. The company had revenue of $84.22 million for the quarter, compared to the consensus estimate of $88.40 million. On average, sell-side analysts forecast that Reading International will post 0.5 EPS for the current year.

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

Large investors have recently made changes to their positions in the business. Gabelli Funds LLC raised its holdings in Reading International by 26.8% during the 2nd quarter. Gabelli Funds LLC now owns 178,161 shares of the company’s stock worth $2,842,000 after purchasing an additional 37,700 shares during the last quarter. BlackRock Inc. raised its holdings in Reading International by 9.4% during the 2nd quarter. BlackRock Inc. now owns 878,024 shares of the company’s stock worth $14,004,000 after purchasing an additional 75,156 shares during the last quarter. Eidelman Virant Capital raised its holdings in Reading International by 21.4% during the 2nd quarter. Eidelman Virant Capital now owns 451,250 shares of the company’s stock worth $7,197,000 after purchasing an additional 79,650 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Reading International by 20.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 227,393 shares of the company’s stock worth $3,627,000 after purchasing an additional 37,873 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Reading International by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,099,326 shares of the company’s stock worth $17,534,000 after purchasing an additional 78,253 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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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