Stock Traders Purchase Large Volume of Reading International Call Options (RDI)
Reading International, Inc. (NASDAQ:RDI) was the target of unusually large options trading on Tuesday. Stock traders purchased 1,039 call options on the stock. This represents an increase of approximately 1,343% compared to the typical daily volume of 72 call options.
A number of equities analysts have weighed in on the company. BidaskClub downgraded Reading International from a “buy” rating to a “hold” rating in a research report on Saturday, September 30th. Zacks Investment Research downgraded Reading International from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Finally, Gabelli assumed coverage on Reading International in a research report on Friday, December 1st. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. Reading International presently has a consensus rating of “Hold” and an average price target of $26.50.
Reading International (NASDAQ RDI) opened at $16.70 on Friday. The firm has a market capitalization of $362.85, a P/E ratio of 16.21 and a beta of 1.30. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.80. Reading International has a 12-month low of $14.37 and a 12-month high of $17.06.
In other Reading International news, insider James J. Cotter, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $15.98, for a total transaction of $799,000.00. Following the transaction, the insider now owns 373,604 shares of the company’s stock, valued at $5,970,191.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 25.57% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. B. Riley Financial Inc. acquired a new position in shares of Reading International in the third quarter valued at approximately $204,000. Van Den Berg Management I Inc. grew its position in shares of Reading International by 56.0% in the third quarter. Van Den Berg Management I Inc. now owns 295,085 shares of the company’s stock valued at $4,639,000 after purchasing an additional 105,897 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Reading International in the third quarter valued at approximately $211,000. Dimensional Fund Advisors LP grew its position in shares of Reading International by 3.7% in 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 during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of Reading International by 13.6% in the third quarter. Jupiter Asset Management Ltd. now owns 236,377 shares of the company’s stock valued at $3,716,000 after purchasing an additional 28,357 shares during the last quarter. 35.17% of the stock is currently owned by institutional investors.
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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