Reading International (RDI) Downgraded by BidaskClub

Reading International (NASDAQ:RDI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Reading International from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Macquarie started coverage on Reading International in a research note on Friday, February 8th. They issued an “outperform” rating and a $20.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.00.

Shares of RDI opened at $13.88 on Tuesday. Reading International has a twelve month low of $13.83 and a twelve month high of $16.72. The company has a market capitalization of $321.34 million, a price-to-earnings ratio of 22.39 and a beta of 1.22. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.37 and a current ratio of 0.24.

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

In other Reading International news, insider Devasis Ghose sold 67,500 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $16.16, for a total value of $1,090,800.00. Following the completion of the transaction, the insider now directly owns 7,500 shares in the company, valued at approximately $121,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Margaret Cotter sold 2,000 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $14.41, for a total value of $28,820.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,495 shares of company stock worth $1,343,960. 25.66% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Reading International by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,166,668 shares of the company’s stock valued at $16,963,000 after acquiring an additional 16,674 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Reading International by 3.0% during the 4th quarter. BlackRock Inc. now owns 919,534 shares of the company’s stock worth $13,371,000 after buying an additional 26,544 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of Reading International by 1.6% during the 3rd quarter. Vanguard Group Inc now owns 675,778 shares of the company’s stock worth $10,677,000 after buying an additional 10,331 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Reading International by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 675,778 shares of the company’s stock worth $10,677,000 after buying an additional 10,331 shares during the last quarter. Finally, Teton Advisors Inc. increased its holdings in shares of Reading International by 1.1% during the 1st quarter. Teton Advisors Inc. now owns 506,852 shares of the company’s stock worth $8,089,000 after buying an additional 5,500 shares during the last quarter. Institutional investors own 40.02% 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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