Zacks Investment Research upgraded shares of Reading International (NASDAQ:RDI) from a sell rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “

Other analysts also recently issued reports about the stock. Gabelli assumed coverage on shares of Reading International in a report on Friday, December 1st. They set a buy rating on the stock. BidaskClub downgraded shares of Reading International from a hold rating to a sell rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Reading International currently has an average rating of Hold and a consensus target price of $26.50.

Reading International (NASDAQ:RDI) traded down $0.22 during trading hours on Tuesday, hitting $16.73. 13,800 shares of the stock were exchanged, compared to its average volume of 44,908. The firm has a market capitalization of $387.55, a price-to-earnings ratio of 16.24 and a beta of 1.30. Reading International has a 1 year low of $14.37 and a 1 year high of $17.29. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.55 and a quick ratio of 1.55.

Reading International (NASDAQ:RDI) last released its quarterly earnings data on Monday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.04). The business had revenue of $66.09 million during the quarter, compared to analyst estimates of $65.70 million. Reading International had a return on equity of 8.16% and a net margin of 8.70%. equities research analysts forecast that Reading International will post 1.15 EPS for the current fiscal year.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Reading International by 1.0% during the second quarter. Renaissance Technologies LLC now owns 1,102,973 shares of the company’s stock valued at $17,791,000 after purchasing an additional 10,473 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Reading International by 3.7% during the third quarter. Dimensional Fund Advisors LP now owns 915,315 shares of the company’s stock valued at $14,389,000 after purchasing an additional 32,645 shares in the last quarter. Vanguard Group Inc. lifted 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 valued at $8,800,000 after purchasing an additional 8,588 shares in the last quarter. Luzich Partners LLC lifted its holdings in Reading International by 1.5% during the second quarter. Luzich Partners LLC now owns 404,245 shares of the company’s stock valued at $6,520,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Teton Advisors Inc. lifted 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 valued at $6,086,000 after purchasing an additional 9,000 shares in the last quarter. 35.17% of the stock is currently owned by institutional investors and hedge funds.

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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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