Reading International, Inc. (NASDAQ:RDI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $18.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 10.63% from the stock’s current price.
According to Zacks, “Reading International, Inc. is engaged primarily in the ownership and management of commercial and residential property. “
RDI has been the subject of a number of other research reports. TheStreet cut Reading International from a “b” rating to a “c+” rating in a report on Monday, March 13th. B. Riley reaffirmed a “buy” rating and issued a $26.00 price target on shares of Reading International in a report on Thursday, March 16th.
Reading International (NASDAQ:RDI) opened at 16.27 on Tuesday. Reading International has a 52 week low of $11.12 and a 52 week high of $17.18. The stock’s 50 day moving average is $16.04 and its 200 day moving average is $15.07. The firm has a market cap of $377.11 million, a price-to-earnings ratio of 40.67 and a beta of 0.95.
Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Monday, March 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Reading International had a return on equity of 8.41% and a net margin of 4.58%. Equities research analysts expect that Reading International will post $0.55 EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the company. PEAK6 Investments L.P. boosted its position in Reading International by 12.8% in the fourth quarter. PEAK6 Investments L.P. now owns 33,318 shares of the company’s stock worth $553,000 after buying an additional 3,779 shares during the last quarter. Renaissance Technologies LLC boosted its position in Reading International by 7.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,094,400 shares of the company’s stock worth $18,167,000 after buying an additional 73,300 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in Reading International during the fourth quarter worth $1,290,000. Gamco Investors INC. ET AL boosted its position in Reading International by 2.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 40,350 shares of the company’s stock worth $670,000 after buying an additional 1,000 shares during the last quarter. Finally, ARS Investment Partners LLC acquired a new position in Reading International during the fourth quarter worth $6,233,000. 22.47% of the stock is owned by institutional investors.
About Reading International
Reading International, Inc (RDI) is focused on the development, ownership and operation of multiplex cinemas, and retail and commercial real estate in the United States, Australia and New Zealand. The Company operates through two segments: cinema exhibition and real estate. The cinema exhibition segment operates multiplex cinemas.
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