Reading International Inc (NASDAQ:RDI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

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

Other equities research analysts have also issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $26.50 target price on shares of Reading International in a report on Monday, May 15th. TheStreet raised shares of Reading International from a “c+” rating to a “b” rating in a report on Friday, June 2nd.

Reading International (RDI) opened at 16.01 on Tuesday. The firm has a market capitalization of $371.16 million, a price-to-earnings ratio of 36.55 and a beta of 1.33. The stock has a 50 day moving average of $15.93 and a 200 day moving average of $15.94. Reading International has a 12-month low of $12.45 and a 12-month high of $17.18.

Reading International (NASDAQ:RDI) last announced its quarterly earnings results on Tuesday, May 9th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $69.45 million for the quarter, compared to analyst estimates of $71.80 million. Reading International had a net margin of 3.71% and a return on equity of 7.69%. Equities research analysts anticipate that Reading International will post $0.61 earnings per share for the current year.

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In other Reading International news, insider James J. Cotter, Jr. sold 5,112 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $15.51, for a total transaction of $79,287.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 26.75% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Reading International during the first quarter worth approximately $103,000. American International Group Inc. raised its stake in shares of Reading International by 7.2% in the first quarter. American International Group Inc. now owns 10,368 shares of the company’s stock worth $161,000 after buying an additional 695 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Reading International by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 10,725 shares of the company’s stock worth $167,000 after buying an additional 521 shares in the last quarter. Gabelli Funds LLC bought a new stake in shares of Reading International during the first quarter worth approximately $218,000. Finally, B. Riley Financial Inc. raised its stake in shares of Reading International by 76.1% in the first quarter. B. Riley Financial Inc. now owns 30,213 shares of the company’s stock worth $470,000 after buying an additional 13,057 shares in the last quarter. 31.55% of the stock is currently owned by hedge funds and other institutional investors.

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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