Reading International, Inc. (RDI) is Eidelman Virant Capital’s 5th Largest Position
Eidelman Virant Capital lifted its stake in Reading International, Inc. (NASDAQ:RDI) by 2.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 461,300 shares of the company’s stock after buying an additional 10,050 shares during the period. Reading International makes up approximately 3.6% of Eidelman Virant Capital’s holdings, making the stock its 5th largest holding. Eidelman Virant Capital’s holdings in Reading International were worth $7,288,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RDI. UBS Group AG increased its holdings in shares of Reading International by 123.3% in the first quarter. UBS Group AG now owns 7,138 shares of the company’s stock worth $119,000 after buying an additional 3,942 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Reading International by 23.8% in the first quarter. JPMorgan Chase & Co. now owns 27,774 shares of the company’s stock worth $463,000 after buying an additional 5,341 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Reading International by 14.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 35,646 shares of the company’s stock worth $569,000 after buying an additional 4,446 shares during the period. PEAK6 Investments L.P. increased its holdings in shares of Reading International by 36.1% in the second quarter. PEAK6 Investments L.P. now owns 40,811 shares of the company’s stock worth $651,000 after buying an additional 10,835 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Reading International by 6.6% in the second quarter. California Public Employees Retirement System now owns 59,617 shares of the company’s stock worth $951,000 after buying an additional 3,712 shares during the period. Hedge funds and other institutional investors own 38.41% of the company’s stock.
In related news, insider Margaret Cotter sold 3,500 shares of the business’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $15.67, for a total transaction of $54,845.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James J. Cotter, Jr. sold 9,400 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $16.18, for a total value of $152,092.00. Following the transaction, the insider now owns 298,587 shares in the company, valued at approximately $4,831,137.66. The disclosure for this sale can be found here. 25.57% of the stock is owned by insiders.
Reading International (NASDAQ:RDI) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Reading International had a return on equity of 6.76% and a net margin of 5.70%. The company had revenue of $84.22 million for the quarter, compared to the consensus estimate of $88.40 million. Analysts expect that Reading International, Inc. will post 0.49 EPS for the current fiscal year.
Several research firms have recently commented on RDI. BidaskClub upgraded Reading International from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Zacks Investment Research downgraded Reading International from a “hold” rating to a “sell” rating in a report on Tuesday, June 19th. Finally, B. Riley restated a “buy” rating on shares of Reading International in a report on Tuesday, September 4th.
About Reading International
Reading International, Inc engages in the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Theatrical Motion Picture Exhibition (Cinema Exhibition) and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.
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