Reading International (NASDAQ:RDI) Rating Lowered to Strong Sell at BidaskClub

Reading International (NASDAQ:RDI) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Thursday, January 25th.

Several other analysts have also issued reports on RDI. Zacks Investment Research upgraded Reading International from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Gabelli assumed coverage on Reading International in a report on Friday, December 1st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.50.

Reading International (NASDAQ RDI) opened at $16.13 on Thursday. 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 firm has a market capitalization of $367.88, a PE ratio of 15.62 and a beta of 1.30. Reading International has a 52-week low of $14.37 and a 52-week high of $17.43.

In other news, insider James J. Cotter, Jr. sold 50,000 shares of the 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 in the company, valued at $5,970,191.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 25.57% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Reading International by 771.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,260 shares of the company’s stock valued at $146,000 after acquiring an additional 8,197 shares during the last quarter. Alliancebernstein L.P. bought a new position in Reading International during the 2nd quarter worth $165,000. Ausdal Financial Partners Inc. bought a new position in Reading International during the 3rd quarter worth $173,000. Wells Fargo & Company MN raised its position in shares of Reading International by 2.6% in the 2nd quarter. Wells Fargo & Company MN now owns 12,258 shares of the company’s stock worth $198,000 after acquiring an additional 312 shares in the last quarter. Finally, B. Riley Financial Inc. bought a new position in shares of Reading International in the 3rd quarter worth about $204,000. 36.15% 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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