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 presently has a $18.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.63% from the company’s current price.

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

Other research analysts have also issued research reports about the stock. TheStreet lowered shares of Reading International from a “b” rating to a “c+” rating in a research note on Monday, March 13th. B. Riley restated a “buy” rating and set a $26.00 price target on shares of Reading International in a research note on Thursday, March 16th.

Shares of Reading International (NASDAQ:RDI) opened at 16.27 on Tuesday. Reading International has a 12 month low of $11.12 and a 12 month high of $17.18. The stock’s 50 day moving average price is $16.04 and its 200-day moving average price is $15.07. The company has a market cap of $377.11 million, a P/E ratio of 40.67 and a beta of 0.95.

Reading International (NASDAQ:RDI) last released its quarterly earnings data on Monday, March 13th. The company reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Reading International had a net margin of 4.58% and a return on equity of 8.41%. Equities research analysts expect that Reading International will post $0.55 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in RDI. B. Riley Financial Inc. acquired a new position in shares of Reading International during the third quarter valued at approximately $233,000. Capstone Investment Advisors LLC acquired a new position in shares of Reading International during the fourth quarter valued at approximately $524,000. PEAK6 Investments L.P. raised its position in shares of Reading International by 12.8% in the fourth quarter. PEAK6 Investments L.P. now owns 33,318 shares of the company’s stock valued at $553,000 after buying an additional 3,779 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Reading International by 2.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 40,350 shares of the company’s stock valued at $670,000 after buying an additional 1,000 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Reading International during the fourth quarter valued at approximately $1,290,000. Institutional investors own 22.47% of the company’s stock.

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.

5 Day Chart for NASDAQ:RDI

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