Insider Selling: Reading International Inc (NASDAQ:RDI) CAO Sells $53,600.00 in Stock

Reading International Inc (NASDAQ:RDI) CAO Steven John Lucas sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $1.34, for a total transaction of $53,600.00. Following the transaction, the chief accounting officer now directly owns 18,961 shares in the company, valued at approximately $25,407.74. This trade represents a 67.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Reading International Price Performance

Shares of RDI stock opened at $1.35 on Thursday. Reading International Inc has a twelve month low of $1.17 and a twelve month high of $1.89. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 156.86. The stock has a fifty day simple moving average of $1.35 and a two-hundred day simple moving average of $1.39. The stock has a market capitalization of $30.35 million, a price-to-earnings ratio of -1.30 and a beta of 1.39.

Reading International (NASDAQ:RDI) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.29. Reading International had a negative return on equity of 632.66% and a negative net margin of 11.28%. The firm had revenue of $40.17 million during the quarter, compared to the consensus estimate of $62.69 million.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen assumed coverage on Reading International in a report on Wednesday, May 21st. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Reading International

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after buying an additional 19,224 shares during the period. Wells Fargo & Company MN boosted its position in Reading International by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after acquiring an additional 36,561 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Reading International by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Krilogy Financial LLC increased its holdings in shares of Reading International by 6.1% in the 1st quarter. Krilogy Financial LLC now owns 2,502,610 shares of the company’s stock valued at $3,479,000 after acquiring an additional 143,000 shares during the period. Hedge funds and other institutional investors own 44.70% of the company’s stock.

Reading International Company Profile

Reading International, Inc, together with its subsidiaries, focuses on 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, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.