Reading International (RDI) Downgraded by BidaskClub to “Strong Sell”

BidaskClub lowered shares of Reading International (NASDAQ:RDI) from a sell rating to a strong sell rating in a research report sent to investors on Friday morning.

Several other brokerages have also recently issued reports on RDI. Zacks Investment Research cut Reading International from a hold rating to a sell rating in a research report on Friday, November 17th. Gabelli initiated coverage on Reading International in a research report on Friday, December 1st. They issued a buy rating on the stock. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. Reading International has a consensus rating of Hold and an average price target of $26.50.

Reading International (NASDAQ:RDI) opened at $16.09 on Friday. The stock has a market capitalization of $367.88, a PE ratio of 28.23 and a beta of 1.30. 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 has a 12-month low of $14.37 and a 12-month high of $17.43.

In other Reading International news, insider James J. Cotter, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $15.98, for a total value of $799,000.00. Following the transaction, 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 available at the SEC website. Company insiders own 25.57% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC purchased a new position in shares of Reading International during the 4th quarter valued at about $142,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Reading International during the 4th quarter valued at about $383,000. Metropolitan Life Insurance Co. NY purchased a new position in shares of Reading International during the 4th quarter valued at about $106,000. PEAK6 Investments L.P. purchased a new position in shares of Reading International during the 4th quarter valued at about $426,000. Finally, Deutsche Bank AG lifted its position in shares of Reading International by 46.2% during the 4th quarter. Deutsche Bank AG now owns 57,469 shares of the company’s stock valued at $957,000 after buying an additional 18,148 shares in the last quarter. 36.74% of the stock is currently owned by hedge funds and other institutional investors.

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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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