Zacks Investment Research upgraded shares of Reading International (NASDAQ:RDI) from a sell rating to a hold rating in a research note released on Friday.

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

A number of other research firms have also weighed in on RDI. BidaskClub lowered shares of Reading International from a sell rating to a strong sell rating in a research report on Thursday, January 25th. Gabelli began coverage on shares of Reading International in a research report on Friday, December 1st. They set a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $26.50.

Reading International (NASDAQ RDI) opened at $16.13 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.80. Reading International has a 12-month low of $14.37 and a 12-month high of $17.43. The firm has a market cap of $367.88, a PE ratio of 15.62 and a beta of 1.30.

In related news, insider James J. Cotter, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $15.98, for a total transaction of $799,000.00. Following the transaction, the insider now directly owns 373,604 shares of the company’s stock, valued at $5,970,191.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.57% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in Reading International by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 882,670 shares of the company’s stock worth $14,237,000 after buying an additional 24,997 shares during the last quarter. Gabelli Funds LLC increased its holdings in Reading International by 123.5% during the third quarter. Gabelli Funds LLC now owns 84,373 shares of the company’s stock worth $1,326,000 after buying an additional 46,623 shares during the last quarter. Teton Advisors Inc. increased its holdings in Reading International by 2.4% during the third quarter. Teton Advisors Inc. now owns 387,172 shares of the company’s stock worth $6,086,000 after buying an additional 9,000 shares during the last quarter. Northern Trust Corp increased its holdings in Reading International by 7.4% during the second quarter. Northern Trust Corp now owns 199,561 shares of the company’s stock worth $3,219,000 after buying an additional 13,721 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Reading International by 1.6% during the second quarter. Vanguard Group Inc. now owns 545,573 shares of the company’s stock worth $8,800,000 after buying an additional 8,588 shares during the last quarter. Institutional investors and hedge funds own 36.15% of the company’s stock.

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About Reading International

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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