BidaskClub Lowers Reading International (NASDAQ:RDI) to Sell

BidaskClub lowered shares of Reading International (NASDAQ:RDI) from a hold rating to a sell rating in a report published on Friday, September 20th, BidAskClub reports.

RDI has been the subject of several other research reports. Zacks Investment Research raised Reading International from a strong sell rating to a hold rating in a report on Wednesday, July 17th. ValuEngine raised Reading International from a hold rating to a buy rating in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $19.00.

RDI opened at $12.25 on Friday. The business’s 50-day moving average is $12.43 and its two-hundred day moving average is $13.80. Reading International has a 1 year low of $11.50 and a 1 year high of $16.72. The company has a debt-to-equity ratio of 2.03, a current ratio of 0.21 and a quick ratio of 0.21. The firm has a market capitalization of $281.77 million, a PE ratio of 44.36 and a beta of 1.14.

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

In related news, EVP Margaret Cotter sold 8,500 shares of Reading International stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $12.36, for a total transaction of $105,060.00. Following the completion of the transaction, the executive vice president now directly owns 801,362 shares in the company, valued at $9,904,834.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 25.66% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of RDI. Charles Schwab Investment Management Inc. boosted its stake in Reading International by 4.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 40,191 shares of the company’s stock worth $522,000 after buying an additional 1,895 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Reading International by 9.1% during the second quarter. Wells Fargo & Company MN now owns 29,197 shares of the company’s stock worth $379,000 after buying an additional 2,445 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Reading International by 511.5% during the first quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock worth $56,000 after buying an additional 2,941 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Reading International by 0.4% during the second quarter. Renaissance Technologies LLC now owns 839,990 shares of the company’s stock worth $10,903,000 after buying an additional 3,000 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Reading International by 75.0% in the 4th quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock valued at $171,000 after purchasing an additional 5,035 shares during the last quarter. Institutional investors and hedge funds own 39.68% 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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