James J. Cotter, Jr. Sells 50,000 Shares of Reading International Inc. (RDI) Stock
Reading International Inc. (NASDAQ:RDI) insider James J. Cotter, Jr. sold 50,000 shares of the company’s stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $14.99, for a total transaction of $749,500.00. Following the completion of the sale, the insider now directly owns 535,186 shares in the company, valued at $8,022,438.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Reading International Inc. (NASDAQ:RDI) opened at 15.30 on Friday. Reading International Inc. has a 52 week low of $9.71 and a 52 week high of $15.30. The company has a market capitalization of $357.01 million, a price-to-earnings ratio of 29.42 and a beta of 0.84. The company’s 50-day moving average is $13.67 and its 200 day moving average is $13.21.
Reading International (NASDAQ:RDI) last announced its earnings results on Tuesday, November 8th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.15. The business had revenue of $71.30 million for the quarter, compared to the consensus estimate of $46.12 million. Reading International had a net margin of 4.58% and a return on equity of 8.41%.
A number of research firms have recently commented on RDI. B. Riley reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Reading International in a research note on Tuesday, September 13th. Zacks Investment Research raised shares of Reading International from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, November 16th.
Large investors have recently made changes to their positions in the stock. Northern Trust Corp increased its position in Reading International by 1.3% in the third quarter. Northern Trust Corp now owns 191,860 shares of the company’s stock valued at $2,561,000 after buying an additional 2,421 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Reading International during the third quarter valued at approximately $171,000. Finally, B. Riley Financial Inc. acquired a new position in Reading International during the third quarter valued at approximately $233,000. 21.46% of the stock is currently owned by institutional investors and hedge funds.
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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