Reading International (RDI) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Reading International (NASDAQ:RDI) from a sell rating to a strong sell rating in a research report released on Friday morning.

Other equities analysts have also issued reports about the company. Gabelli began coverage on Reading International in a research report on Friday, December 1st. They set a buy rating on the stock. Zacks Investment Research lowered Reading International from a hold rating to a sell rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $26.50.

Reading International (NASDAQ:RDI) opened at $16.09 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $367.88, a PE ratio of 15.62 and a beta of 1.30. Reading International has a 1 year low of $14.37 and a 1 year high of $17.43.

In related news, insider James J. Cotter, Jr. sold 50,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $15.98, for a total transaction of $799,000.00. Following the completion of the sale, the insider now directly owns 373,604 shares in the company, valued at approximately $5,970,191.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 25.57% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in Reading International by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 12,258 shares of the company’s stock valued at $198,000 after acquiring an additional 312 shares during the period. Nationwide Fund Advisors boosted its holdings in Reading International by 14.6% during the 2nd quarter. Nationwide Fund Advisors now owns 13,357 shares of the company’s stock valued at $215,000 after acquiring an additional 1,700 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Reading International by 3.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 53,501 shares of the company’s stock valued at $863,000 after acquiring an additional 1,924 shares during the period. Teachers Advisors LLC boosted its holdings in Reading International by 9.3% during the 2nd quarter. Teachers Advisors LLC now owns 30,036 shares of the company’s stock valued at $484,000 after acquiring an additional 2,545 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Reading International by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 73,763 shares of the company’s stock valued at $1,190,000 after acquiring an additional 2,624 shares during the period. Institutional investors own 36.15% of the company’s stock.

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About Reading International

Reading International, Inc (RDI) is engaged in the development, ownership and operation of multiplex cinemas in the United States, Australia, and New Zealand, and the development, ownership and operation of retail and commercial real estate in the United States, Australia and New Zealand. RDI operates through two segments: cinema exhibition and real estate.

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