BidaskClub Upgrades Reading International (NASDAQ:RDI) to Sell

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BidaskClub upgraded shares of Reading International (NASDAQ:RDI) from a strong sell rating to a sell rating in a research report report published on Friday, BidAskClub reports.

Separately, Zacks Investment Research downgraded shares of H&E Equipment Services from a hold rating to a sell rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Reading International presently has a consensus rating of Hold and an average price target of $19.00.

Shares of RDI opened at $12.95 on Friday. The company has a 50 day moving average of $13.09. The stock has a market capitalization of $298.48 million, a P/E ratio of 20.89 and a beta of 1.16. The company has a debt-to-equity ratio of 2.01, a current ratio of 0.24 and a quick ratio of 0.24. Reading International has a 1-year low of $12.56 and a 1-year high of $16.72.

Reading International (NASDAQ:RDI) last announced its earnings results on Friday, May 10th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.17). The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $65.60 million. Reading International had a net margin of 3.11% and a return on equity of 5.09%. As a group, research analysts anticipate that Reading International will post 0.44 EPS for the current year.

In other Reading International news, insider Margaret Cotter sold 7,500 shares of Reading International stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $13.35, for a total transaction of $100,125.00. Following the transaction, the insider now directly owns 801,362 shares of the company’s stock, valued at $10,698,182.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 30,005 shares of company stock worth $399,346 over the last three months. Insiders own 25.66% of the company’s stock.

Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Reading International by 511.5% in the first quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock worth $56,000 after purchasing an additional 2,941 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Reading International by 448.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,330 shares of the company’s stock worth $92,000 after purchasing an additional 5,175 shares during the last quarter. Legacy Advisors LLC bought a new position in shares of Reading International in the first quarter worth approximately $117,000. LPL Financial LLC bought a new stake in Reading International in the fourth quarter valued at $160,000. Finally, Bank of America Corp DE boosted its holdings in Reading International by 75.0% in the fourth quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock valued at $171,000 after acquiring an additional 5,035 shares in the last quarter. Hedge funds and other institutional investors own 39.48% of the company’s stock.

About Reading International

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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