BidaskClub Upgrades Reading International (RDI) to Sell

Reading International (NASDAQ:RDI) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also issued reports on RDI. Zacks Investment Research upgraded shares of Reading International from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Saturday, August 18th. B. Riley reiterated a “buy” rating on shares of Reading International in a report on Tuesday, September 4th. Finally, TheStreet lowered shares of Reading International from a “b-” rating to a “c” rating in a report on Thursday, November 15th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $20.75.

NASDAQ RDI traded up $0.02 during trading hours on Friday, reaching $15.28. The company’s stock had a trading volume of 7,300 shares, compared to its average volume of 43,179. The firm has a market cap of $351.22 million, a PE ratio of 11.75 and a beta of 1.38. 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 0.89, a current ratio of 0.78 and a quick ratio of 0.78.

Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The business had revenue of $74.26 million during the quarter, compared to analyst estimates of $70.40 million. Reading International had a net margin of 5.46% and a return on equity of 6.57%. As a group, research analysts anticipate that Reading International will post 0.51 earnings per share for the current fiscal year.

In other Reading International news, insider Margaret Cotter sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $15.67, for a total transaction of $54,845.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.95% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in RDI. UBS Group AG raised its holdings in Reading International by 123.3% during the 1st quarter. UBS Group AG now owns 7,138 shares of the company’s stock worth $119,000 after purchasing an additional 3,942 shares during the last quarter. Wittenberg Investment Management Inc. raised its holdings in Reading International by 1.0% during the 2nd quarter. Wittenberg Investment Management Inc. now owns 509,740 shares of the company’s stock worth $8,130,000 after purchasing an additional 5,126 shares during the last quarter. Yacktman Asset Management LP increased its stake in shares of Reading International by 5.4% in the 2nd quarter. Yacktman Asset Management LP now owns 110,000 shares of the company’s stock valued at $1,754,000 after acquiring an additional 5,590 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Reading International by 14.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 35,646 shares of the company’s stock valued at $569,000 after acquiring an additional 4,446 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Reading International by 9.4% in the 2nd quarter. BlackRock Inc. now owns 878,024 shares of the company’s stock valued at $14,004,000 after acquiring an additional 75,156 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

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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