Zacks Investment Research Lowers Reading International Inc (RDI) to Sell

Zacks Investment Research downgraded shares of Reading International Inc (NASDAQ:RDI) from a hold rating to a sell rating in a research report sent to investors on Friday.

According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “

Several other brokerages also recently commented on RDI. B. Riley restated a buy rating and issued a $26.50 target price on shares of Reading International in a research note on Wednesday, August 16th. BidaskClub upgraded Reading International from a hold rating to a buy rating in a research note on Friday, September 15th.

Reading International (NASDAQ:RDI) opened at $15.03 on Friday. Reading International has a 12 month low of $14.37 and a 12 month high of $17.18. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $343.65, a PE ratio of 26.37 and a beta of 1.32.

Reading International (NASDAQ:RDI) last issued its earnings results on Monday, November 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). Reading International had a return on equity of 8.16% and a net margin of 8.70%. The company had revenue of $66.09 million during the quarter, compared to the consensus estimate of $65.70 million. equities analysts expect that Reading International will post 1.15 earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of RDI. Van Den Berg Management I Inc. boosted its position in shares of Reading International by 56.0% during the 3rd quarter. Van Den Berg Management I Inc. now owns 295,085 shares of the company’s stock valued at $4,639,000 after acquiring an additional 105,897 shares during the last quarter. Eidelman Virant Capital boosted its position in shares of Reading International by 32.1% during the 3rd quarter. Eidelman Virant Capital now owns 377,650 shares of the company’s stock valued at $5,936,000 after acquiring an additional 91,850 shares during the last quarter. Gabelli Funds LLC boosted its position in shares of Reading International by 123.5% during the 3rd quarter. Gabelli Funds LLC now owns 84,373 shares of the company’s stock valued at $1,326,000 after acquiring an additional 46,623 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Reading International during the 2nd quarter valued at about $671,000. Finally, Gamco Investors INC. ET AL boosted its position in shares of Reading International by 52.7% during the 3rd quarter. Gamco Investors INC. ET AL now owns 112,382 shares of the company’s stock valued at $1,767,000 after acquiring an additional 38,800 shares during the last quarter. Hedge funds and other institutional investors own 34.89% of the company’s stock.

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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