PEAK6 Investments L.P. purchased a new stake in Reading International (NASDAQ:RDI) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 25,534 shares of the company’s stock, valued at approximately $426,000. PEAK6 Investments L.P. owned about 0.11% of Reading International as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Van Den Berg Management I Inc. increased its holdings in shares of Reading International by 56.0% in the 3rd quarter. Van Den Berg Management I Inc. now owns 295,085 shares of the company’s stock worth $4,639,000 after buying an additional 105,897 shares during the last quarter. Cove Street Capital LLC bought a new stake in shares of Reading International in the 4th quarter worth about $1,670,000. Gabelli Funds LLC increased its holdings in shares of Reading International by 61.7% in the 4th quarter. Gabelli Funds LLC now owns 136,461 shares of the company’s stock worth $2,279,000 after buying an additional 52,088 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Reading International by 40.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 157,813 shares of the company’s stock worth $2,635,000 after buying an additional 45,431 shares during the last quarter. Finally, Yacktman Asset Management LP increased its holdings in shares of Reading International by 83.0% in the 4th quarter. Yacktman Asset Management LP now owns 93,310 shares of the company’s stock worth $1,558,000 after buying an additional 42,310 shares during the last quarter. Institutional investors own 36.49% of the company’s stock.
A number of research firms have recently weighed in on RDI. B. Riley reduced their target price on shares of Reading International from $26.50 to $23.50 and set a “buy” rating on the stock in a report on Thursday, March 22nd. Zacks Investment Research upgraded shares of Reading International from a “sell” rating to a “hold” rating in a report on Tuesday, February 27th. Finally, BidaskClub raised shares of Reading International from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.50.
Shares of RDI stock traded down $0.36 during trading hours on Friday, reaching $16.37. 55,261 shares of the stock were exchanged, compared to its average volume of 43,086. Reading International has a 12-month low of $14.37 and a 12-month high of $17.50. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.68. The stock has a market cap of $387.75, a PE ratio of 12.59 and a beta of 1.25.
Reading International (NASDAQ:RDI) last released its quarterly earnings results on Friday, March 16th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.03). Reading International had a return on equity of 8.22% and a net margin of 11.08%. The firm had revenue of $71.78 million for the quarter, compared to analysts’ expectations of $77.50 million. sell-side analysts forecast that Reading International will post 0.56 EPS for the current year.
In other Reading International news, insider James J. Cotter, Jr. sold 25,000 shares of the business’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $16.80, for a total value of $420,000.00. Following the completion of the sale, the insider now directly owns 352,987 shares of the company’s stock, valued at approximately $5,930,181.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James J. Cotter, Jr. sold 15,000 shares of the business’s stock in a transaction dated Friday, March 23rd. The shares were sold at an average price of $16.54, for a total transaction of $248,100.00. Following the completion of the sale, the insider now directly owns 352,987 shares of the company’s stock, valued at $5,838,404.98. The disclosure for this sale can be found here. 25.57% of the stock is currently owned by insiders.
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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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