Reading International Inc (RDI) Downgraded by BidaskClub to “Hold”
BidaskClub lowered shares of Reading International Inc (NASDAQ:RDI) from a buy rating to a hold rating in a research note published on Saturday morning.
A number of other equities analysts also recently commented on RDI. Zacks Investment Research downgraded shares of Reading International from a hold rating to a sell rating in a research note on Tuesday, July 18th. TheStreet raised shares of Reading International from a c+ rating to a b rating in a research report on Friday, June 2nd. Finally, B. Riley reaffirmed a buy rating and set a $26.50 price target on shares of Reading International in a research note on Wednesday, August 16th.
Shares of Reading International (NASDAQ:RDI) opened at 15.97 on Friday. The company has a market cap of $368.22 million, a PE ratio of 14.27 and a beta of 1.30. Reading International has a one year low of $12.54 and a one year high of $17.18. The stock’s 50 day moving average is $15.83 and its 200-day moving average is $15.71.
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In other Reading International news, insider James J. Cotter, Jr. sold 9,888 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $15.62, for a total value of $154,450.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 26.75% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RDI. Rhumbline Advisers raised its holdings in shares of Reading International by 1.4% in the 2nd quarter. Rhumbline Advisers now owns 19,715 shares of the company’s stock valued at $318,000 after purchasing an additional 270 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Reading International by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 12,258 shares of the company’s stock worth $198,000 after purchasing an additional 312 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Reading International by 5.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,725 shares of the company’s stock worth $167,000 after purchasing an additional 521 shares during the period. American International Group Inc. boosted its stake in shares of Reading International by 7.2% during the first quarter. American International Group Inc. now owns 10,368 shares of the company’s stock valued at $161,000 after purchasing an additional 695 shares in the last quarter. Finally, Wilen Investment Management CORP. boosted its stake in shares of Reading International by 2.4% during the second quarter. Wilen Investment Management CORP. now owns 63,342 shares of the company’s stock valued at $998,000 after purchasing an additional 1,500 shares in the last quarter. 33.26% of the stock is currently owned by institutional investors and hedge funds.
Reading International Company Profile
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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