Reading International (NASDAQ:RDI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Reading International from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Saturday, August 18th. B. Riley restated a “buy” rating on shares of Reading International in a research report on Tuesday, September 4th.

Shares of RDI stock traded up $0.07 on Thursday, hitting $14.97. The company had a trading volume of 38,800 shares, compared to its average volume of 39,228. The stock has a market cap of $363.23 million, a price-to-earnings ratio of 11.52 and a beta of 1.35. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.81. Reading International has a twelve month low of $14.37 and a twelve month high of $17.50.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. The company had revenue of $84.22 million during the quarter, compared to analysts’ expectations of $88.40 million. Reading International had a return on equity of 6.76% and a net margin of 5.70%. Sell-side analysts forecast that Reading International will post 0.49 earnings per share for the current year.

In other Reading International news, insider Margaret Cotter sold 3,500 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $15.67, for a total value of $54,845.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James J. Cotter, Jr. sold 9,400 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $16.18, for a total value of $152,092.00. Following the completion of the transaction, the insider now owns 298,587 shares in the company, valued at approximately $4,831,137.66. The disclosure for this sale can be found here. 25.57% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Gabelli Funds LLC boosted its holdings in Reading International by 26.8% in the second quarter. Gabelli Funds LLC now owns 178,161 shares of the company’s stock worth $2,842,000 after acquiring an additional 37,700 shares in the last quarter. Eidelman Virant Capital lifted its holdings in shares of Reading International by 21.4% in the second quarter. Eidelman Virant Capital now owns 451,250 shares of the company’s stock valued at $7,197,000 after purchasing an additional 79,650 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Reading International by 6.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,021,073 shares of the company’s stock valued at $17,001,000 after purchasing an additional 61,242 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Reading International by 20.0% in the second quarter. Gamco Investors INC. ET AL now owns 227,393 shares of the company’s stock valued at $3,627,000 after purchasing an additional 37,873 shares in the last quarter. Finally, Teton Advisors Inc. lifted its holdings in shares of Reading International by 15.4% in the second quarter. Teton Advisors Inc. now owns 487,852 shares of the company’s stock valued at $7,781,000 after purchasing an additional 65,180 shares in the last quarter. Institutional investors and hedge funds own 38.41% of the company’s stock.

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, Theatrical Motion Picture Exhibition (Cinema Exhibition) and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.

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