Zacks Investment Research downgraded shares of Reading International (NASDAQ:RDI) from a hold rating to a sell rating in a research note published on Thursday, February 15th.
According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “
Other equities analysts also recently issued research reports about the company. Gabelli started coverage on Reading International in a research report on Friday, December 1st. They set a buy rating on the stock. BidaskClub downgraded Reading International from a hold rating to a sell rating in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $26.50.
Shares of Reading International (RDI) opened at $16.05 on Thursday. The stock has a market capitalization of $363.54, a P/E ratio of 27.90 and a beta of 1.30. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.80. Reading International has a 12 month low of $14.37 and a 12 month high of $17.43.
In related news, insider James J. Cotter, Jr. sold 50,000 shares of the company’s stock in a transaction on 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 the SEC website. Corporate insiders own 25.57% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Reading International by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 882,670 shares of the company’s stock valued at $14,237,000 after purchasing an additional 24,997 shares during the period. Gabelli Funds LLC increased its holdings in shares of Reading International by 123.5% in the third quarter. Gabelli Funds LLC now owns 84,373 shares of the company’s stock valued at $1,326,000 after purchasing an additional 46,623 shares during the period. Teton Advisors Inc. grew its holdings in Reading International by 2.4% during the third quarter. Teton Advisors Inc. now owns 387,172 shares of the company’s stock worth $6,086,000 after acquiring an additional 9,000 shares during the period. Vanguard Group Inc. grew its holdings in Reading International by 1.6% during the second quarter. Vanguard Group Inc. now owns 545,573 shares of the company’s stock worth $8,800,000 after acquiring an additional 8,588 shares during the period. Finally, Northern Trust Corp grew its holdings in Reading International by 7.4% during the second quarter. Northern Trust Corp now owns 199,561 shares of the company’s stock worth $3,219,000 after acquiring an additional 13,721 shares during the period. 36.74% of the stock is currently owned by institutional investors and hedge funds.
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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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