Wittenberg Investment Management Inc. lifted its holdings in Reading International, Inc. (NASDAQ:RDI) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 562,922 shares of the company’s stock after purchasing an additional 8,251 shares during the period. Reading International comprises about 3.1% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 6th largest holding. Wittenberg Investment Management Inc.’s holdings in Reading International were worth $7,307,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in RDI. Dimensional Fund Advisors LP increased its stake in Reading International by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,166,668 shares of the company’s stock worth $16,963,000 after buying an additional 16,674 shares in the last quarter. BlackRock Inc. increased its stake in Reading International by 3.0% during the 4th quarter. BlackRock Inc. now owns 919,534 shares of the company’s stock worth $13,371,000 after buying an additional 26,544 shares in the last quarter. Teton Advisors Inc. increased its stake in Reading International by 1.1% during the 1st quarter. Teton Advisors Inc. now owns 506,852 shares of the company’s stock worth $8,089,000 after buying an additional 5,500 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in Reading International by 32.4% during the 1st quarter. Kennedy Capital Management Inc. now owns 300,344 shares of the company’s stock worth $4,793,000 after buying an additional 73,580 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in Reading International by 1.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 293,123 shares of the company’s stock worth $4,678,000 after buying an additional 2,888 shares in the last quarter. Hedge funds and other institutional investors own 39.53% of the company’s stock.
Several equities research analysts have commented on RDI shares. Zacks Investment Research upgraded Reading International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 17th. BidaskClub upgraded Reading International from a “strong sell” rating to a “sell” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.00.
In other news, insider Margaret Cotter sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $13.06, for a total transaction of $65,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 30,005 shares of company stock worth $399,346. Insiders own 25.66% of the company’s stock.
NASDAQ:RDI traded down $0.18 during trading hours on Friday, hitting $12.58. 18,783 shares of the stock were exchanged, compared to its average volume of 33,719. Reading International, Inc. has a 52-week low of $12.56 and a 52-week high of $16.72. The business’s fifty day simple moving average is $13.06. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 2.01. The firm has a market cap of $288.84 million, a P/E ratio of 20.29 and a beta of 1.14.
Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.17). Reading International had a return on equity of 5.09% and a net margin of 3.11%. The firm had revenue of $61.55 million for the quarter, compared to analysts’ expectations of $65.60 million. As a group, sell-side analysts expect that Reading International, Inc. will post 0.44 earnings per share for the current fiscal year.
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, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.
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