Reading International, Inc. (NASDAQ:RDI) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $20.00.
RDI has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Reading International from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, January 30th. Macquarie began coverage on shares of Reading International in a report on Friday, February 8th. They set an “outperform” rating and a $20.00 price target for the company. Finally, BidaskClub cut shares of Reading International from a “hold” rating to a “sell” rating in a report on Saturday, February 23rd.
In other news, insider Margaret Cotter sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $14.41, for a total transaction of $28,820.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Devasis Ghose sold 67,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $16.16, for a total transaction of $1,090,800.00. Following the sale, the insider now owns 7,500 shares of the company’s stock, valued at approximately $121,200. The disclosure for this sale can be found here. Insiders have sold a total of 83,495 shares of company stock valued at $1,343,960 in the last quarter. 25.66% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of RDI. BNP Paribas Arbitrage SA raised its position in Reading International by 511.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock valued at $56,000 after purchasing an additional 2,941 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Reading International by 448.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,330 shares of the company’s stock valued at $92,000 after purchasing an additional 5,175 shares during the last quarter. Legacy Advisors LLC purchased a new stake in Reading International in the 1st quarter valued at $117,000. LPL Financial LLC purchased a new stake in Reading International in the 4th quarter valued at $160,000. Finally, Bank of America Corp DE raised its position in Reading International by 75.0% in the 4th quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock valued at $171,000 after purchasing an additional 5,035 shares during the last quarter. Institutional investors and hedge funds own 39.91% of the company’s stock.
Shares of RDI stock traded up $0.03 during trading on Friday, reaching $13.63. The company’s stock had a trading volume of 28,161 shares, compared to its average volume of 30,957. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market capitalization of $312.97 million, a P/E ratio of 21.98 and a beta of 1.22. Reading International has a 1-year low of $13.59 and a 1-year high of $16.72.
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 analysts’ consensus estimates of $0.08 by ($0.17). The business had revenue of $61.55 million during the quarter, compared to analyst estimates of $65.60 million. Reading International had a net margin of 3.11% and a return on equity of 5.09%. On average, research analysts forecast that Reading International will post 0.44 EPS for the current fiscal year.
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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