Reading International, Inc. (NASDAQ:RDI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $13.31. Reading International shares last traded at $13.25, with a volume of 210 shares changing hands.
RDI has been the subject of several recent analyst reports. BidaskClub raised Reading International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Zacks Investment Research cut Reading International from a “hold” rating to a “sell” rating in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $19.00.
The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 2.01. The firm’s 50 day simple moving average is $13.33. The stock has a market capitalization of $305.05 million, a price-to-earnings ratio of 21.40 and a beta of 1.16.
Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.17). The firm had revenue of $61.55 million during the quarter, compared to analyst estimates of $65.60 million. Reading International had a net margin of 3.11% and a return on equity of 5.09%. As a group, sell-side analysts expect that Reading International, Inc. will post 0.44 earnings per share for the current year.
In related news, insider Margaret Cotter sold 2,000 shares of Reading International stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $14.41, for a total value of $28,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 30,005 shares of company stock valued at $399,346. 25.66% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA lifted its holdings in Reading International by 511.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock worth $56,000 after buying an additional 2,941 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Reading International by 448.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,330 shares of the company’s stock worth $92,000 after buying an additional 5,175 shares during the last quarter. Legacy Advisors LLC purchased a new stake in Reading International during the 1st quarter worth about $117,000. LPL Financial LLC purchased a new stake in Reading International during the 4th quarter worth about $160,000. Finally, Bank of America Corp DE lifted its holdings in Reading International by 75.0% during the 4th quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock worth $171,000 after buying an additional 5,035 shares during the last quarter. 39.48% of the stock is owned by institutional investors.
About Reading International (NASDAQ:RDI)
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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