Zacks Investment Research Lowers Reading International (RDI) to Sell

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

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

A number of other research analysts also recently commented on RDI. BidaskClub upgraded shares of Reading International from a strong sell rating to a sell rating in a research note on Wednesday, February 7th. Gabelli assumed coverage on shares of Reading International in a research note on Friday, December 1st. They set a buy rating on the stock. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Reading International currently has an average rating of Hold and a consensus price target of $26.50.

Reading International (RDI) opened at $16.09 on Thursday. Reading International has a 52 week low of $14.37 and a 52 week high of $17.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.80. The company has a market cap of $367.88, a price-to-earnings ratio of 28.23 and a beta of 1.30.

In other Reading International 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 transaction, the insider now directly owns 373,604 shares in the company, valued at approximately $5,970,191.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 25.57% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of Reading International by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 915,315 shares of the company’s stock worth $14,389,000 after buying an additional 32,645 shares during the last quarter. BlackRock Inc. lifted its position in shares of Reading International by 1.5% in the 4th quarter. BlackRock Inc. now owns 808,913 shares of the company’s stock worth $13,508,000 after buying an additional 12,293 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Reading International by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 545,573 shares of the company’s stock worth $8,800,000 after buying an additional 8,588 shares during the last quarter. Wittenberg Investment Management Inc. lifted its position in shares of Reading International by 2.7% in the 4th quarter. Wittenberg Investment Management Inc. now owns 508,714 shares of the company’s stock worth $8,496,000 after buying an additional 13,298 shares during the last quarter. Finally, Teton Advisors Inc. lifted its position in shares of Reading International by 3.2% in the 4th quarter. Teton Advisors Inc. now owns 399,372 shares of the company’s stock worth $6,670,000 after buying an additional 12,200 shares during the last quarter. Institutional investors own 36.15% of the company’s stock.

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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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