Bank of New York Mellon Corp trimmed its position in Reading International, Inc. (NASDAQ:RDI) by 9.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 67,147 shares of the company’s stock after selling 6,616 shares during the quarter. Bank of New York Mellon Corp’s holdings in Reading International were worth $1,056,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Yacktman Asset Management LP boosted its holdings in Reading International by 112.5% in the 3rd quarter. Yacktman Asset Management LP now owns 51,000 shares of the company’s stock worth $802,000 after buying an additional 27,000 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Reading International by 123.5% in the 3rd 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. boosted its holdings in Reading International by 2.4% in the 3rd 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. Gamco Investors INC. ET AL boosted its holdings in Reading International by 52.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 112,382 shares of the company’s stock worth $1,767,000 after buying an additional 38,800 shares during the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Reading International during the 3rd quarter worth approximately $173,000. Institutional investors own 35.17% of the company’s stock.
Several brokerages have recently weighed in on RDI. Gabelli began coverage on Reading International in a report on Friday, December 1st. They set a “buy” rating on the stock. Zacks Investment Research cut Reading International from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Finally, BidaskClub cut Reading International from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $26.50.
Reading International, Inc. (NASDAQ:RDI) opened at $17.01 on Friday. The firm has a market capitalization of $396.01, a P/E ratio of 16.68 and a beta of 1.30. Reading International, Inc. has a twelve month low of $14.37 and a twelve month high of $17.23. 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 (NASDAQ:RDI) last issued its earnings results on Monday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.04). The company had revenue of $66.09 million for the quarter, compared to analyst estimates of $65.70 million. Reading International had a return on equity of 8.16% and a net margin of 8.70%. research analysts predict that Reading International, Inc. will post 1.15 earnings per share for the current year.
In other news, insider James J. Cotter, Jr. sold 50,000 shares of Reading International stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $15.98, for a total transaction of $799,000.00. Following the sale, the insider now owns 373,604 shares of the company’s stock, valued at approximately $5,970,191.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 25.57% of the stock is currently owned by insiders.
Reading International Profile
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.
Want to see what other hedge funds are holding RDI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reading International, Inc. (NASDAQ:RDI).
Receive News & Ratings for Reading International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reading International and related companies with MarketBeat.com's FREE daily email newsletter.