Reading International, Inc. (NASDAQ:RDI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $18.00 price objective on the stock. Zacks Investment Research’s price target points to 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 reports. TheStreet lowered shares of Reading International from a “b” rating to a “c+” rating in a report on Monday, March 13th. B. Riley reaffirmed a “buy” rating and set a $26.00 price objective on shares of Reading International in a report on Thursday, March 16th.
Reading International (NASDAQ:RDI) opened at 16.27 on Tuesday. The firm has a 50-day moving average of $16.04 and a 200 day moving average of $15.07. Reading International has a one year low of $11.12 and a one year high of $17.18. The company has a market capitalization of $377.11 million, a price-to-earnings ratio of 40.67 and a beta of 0.95.
Reading International (NASDAQ:RDI) last announced its quarterly earnings data on Monday, March 13th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. Reading International had a net margin of 4.58% and a return on equity of 8.41%. Equities research analysts predict that Reading International will post $0.55 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of RDI. ARS Investment Partners LLC acquired a new position in Reading International during the fourth quarter worth $6,233,000. Capstone Investment Advisors LLC acquired a new position in Reading International during the fourth quarter worth $524,000. Renaissance Technologies LLC raised 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 period. PEAK6 Investments L.P. raised 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 period. Finally, Gamco Investors INC. ET AL raised 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 period. 22.47% of the stock is owned by hedge funds and other institutional investors.
Reading International Company Profile
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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