Stock On Watch: What Will Happen to Reading International, Inc. Next? The Stock Just Reaches 52-Week High

Stock On Watch: What Will Happen to Reading International, Inc. Next? The Stock Just Reaches 52 Week High

The stock of Reading International, Inc. (NASDAQ:RDI) hit a new 52-week high and has $27.43 target or 84.00% above today’s $14.91 share price. The 6 months bullish chart indicates low risk for the $351.81M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $27.43 price target is reached, the company will be worth $295.52M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 57,519 shares traded hands or 12.21% up from the average. Reading International, Inc. (NASDAQ:RDI) has risen 22.82% since April 19, 2016 and is uptrending. It has outperformed by 18.96% the S&P500.

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

Insitutional Activity: The institutional sentiment increased to 1.27 in Q2 2016. Its up 0.47, from 0.8 in 2016Q1. The ratio improved, as 8 funds sold all Reading International, Inc. shares owned while 22 reduced positions. 4 funds bought stakes while 20 increased positions. They now own 5.91 million shares or 6.60% less from 6.33 million shares in 2016Q1.
Numeric Limited Liability holds 0% of its portfolio in Reading International, Inc. (NASDAQ:RDI) for 12,710 shares. Earnest Lc holds 0% of its portfolio in Reading International, Inc. (NASDAQ:RDI) for 2,400 shares. Susquehanna International Group Limited Liability Partnership has 88,731 shares for 0% of their US portfolio. Comml Bank Of America De accumulated 8,594 shares or 0% of the stock. Eidelman Virant holds 1.82% of its portfolio in Reading International, Inc. (NASDAQ:RDI) for 237,000 shares. Renaissance Ltd Llc last reported 0.02% of its portfolio in the stock. Bnp Paribas Arbitrage holds 656 shares or 0% of its portfolio. Martingale Asset Mngmt Ltd Partnership last reported 0% of its portfolio in the stock. Panagora Asset Incorporated has 923 shares for 0% of their US portfolio. Oxford Asset Management owns 27,122 shares or 0.01% of their US portfolio. Schwab Charles Invest Incorporated last reported 23,000 shares in the company. Allianz Asset Mgmt Ag, a Germany-based fund reported 74,250 shares. Royal Bancorp Of Canada last reported 170 shares in the company. Tower Rech Capital Limited Liability (Trc) last reported 191 shares in the company. The Japan-based Diam Ltd has invested 0% in Reading International, Inc. (NASDAQ:RDI).

Insider Transactions: Since August 12, 2016, the stock had 0 buys, and 3 selling transactions for $2.75 million net activity. 60,000 shares were sold by Cotter James J JR, worth $812,232 on Tuesday, September 6.

More recent Reading International, Inc. (NASDAQ:RDI) news were published by: Businesswire.com which released: “Reading International, Inc. Announces Progress on Union Square Property” on April 28, 2016. Also Businesswire.com published the news titled: “Reading International, Inc. Announces Final Award in STOMP Arbitration” on May 02, 2016. Wsj.com‘s news article titled: “Reading International Says It Rejected $17-a-Share Takeover Approach” with publication date: July 18, 2016 was also an interesting one.

RDI Company Profile

Reading International, Inc. (RDI), incorporated on October 28, 1999, 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. RDI operates through two divisions: cinema exhibition and real estate. The cinema exhibition segment operates multiplex cinemas. RDI’s real estate segment includes real estate development and the rental of retail, commercial and live theater assets. The Firm manages its cinema exhibition businesses around the world under various brands, including Reading Cinema, Angelika Film Centers, Consolidated Theatres and City Cinemas brands in the United States; under the Reading Cinema brand in Australia, and under the Reading Cinema and Rialto brands in New Zealand.

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