Reading International (NASDAQ:RDI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “
A number of other research firms have also recently commented on RDI. BidaskClub cut Reading International from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 25th. Gabelli initiated coverage on Reading International in a research note on Friday, December 1st. They issued a “buy” rating for the company. One research 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 (RDI) opened at $16.47 on Wednesday. The company has a market capitalization of $363.54, a P/E ratio of 15.99 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 one year low of $14.37 and a one year high of $17.43.
In related news, insider James J. Cotter, Jr. sold 50,000 shares of the firm’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 completion of the transaction, the insider now owns 373,604 shares of the company’s stock, valued at approximately $5,970,191.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 25.57% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY bought a new position in Reading International during the 4th quarter valued at approximately $106,000. MetLife Investment Advisors LLC bought a new position in Reading International during the 4th quarter valued at approximately $142,000. JPMorgan Chase & Co. increased its position in Reading International by 771.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,260 shares of the company’s stock valued at $146,000 after buying an additional 8,197 shares in the last quarter. Alliancebernstein L.P. bought a new position in Reading International during the 2nd quarter valued at approximately $165,000. Finally, Ausdal Financial Partners Inc. bought a new position in Reading International during the 3rd quarter valued at approximately $173,000. 36.74% of the stock is owned by institutional investors.
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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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