Reading International (NASDAQ:RDI) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Reading International (NASDAQ:RDI) from a strong sell rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “

Separately, BidaskClub lowered shares of ZIX from a strong-buy rating to a buy rating in a research report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Reading International presently has an average rating of Hold and a consensus target price of $19.00.

Reading International stock opened at $13.01 on Wednesday. Reading International has a 52 week low of $12.56 and a 52 week high of $16.72. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 2.01. The stock has a 50-day simple moving average of $13.10. The stock has a market cap of $298.28 million, a price-to-earnings ratio of 32.47 and a beta of 1.16.

Reading International (NASDAQ:RDI) last released its quarterly earnings data on Friday, May 10th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.17). Reading International had a return on equity of 5.09% and a net margin of 3.11%. The business had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $65.60 million. As a group, research analysts forecast that Reading International will post 0.44 earnings per share for the current fiscal year.

In other Reading International news, insider Margaret Cotter sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $14.41, for a total value of $28,820.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 30,005 shares of company stock worth $399,346. 25.66% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in RDI. BNP Paribas Arbitrage SA lifted its holdings in Reading International by 511.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock valued at $56,000 after purchasing an additional 2,941 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Reading International by 448.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,330 shares of the company’s stock worth $92,000 after acquiring an additional 5,175 shares during the period. Legacy Advisors LLC purchased a new position in shares of Reading International during the 1st quarter worth about $117,000. LPL Financial LLC purchased a new position in shares of Reading International during the 4th quarter worth about $160,000. Finally, Bank of America Corp DE lifted its holdings in shares of Reading International by 75.0% during the 4th quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock worth $171,000 after acquiring an additional 5,035 shares during the period. Institutional investors own 39.48% 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, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.

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