Stock Worth Mentioning Today: Will Reading International, Inc. Run Out of Steam Soon?

Stock Worth Mentioning Today: Will Reading International, Inc. Run Out of Steam Soon?

The stock of Reading International, Inc. (NASDAQ:RDI) hit a new 52-week high and has $16.99 target or 9.00% above today’s $15.59 share price. The 9 months bullish chart indicates low risk for the $363.57M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $16.99 price target is reached, the company will be worth $32.72M 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. The stock increased 1.96% or $0.3 during the last trading session, hitting $15.59. About 41,369 shares traded hands. Reading International, Inc. (NASDAQ:RDI) has risen 20.49% since April 25, 2016 and is uptrending. It has outperformed by 14.47% the S&P500.

Analysts await Reading International, Inc. (NASDAQ:RDI) to report earnings on May, 1. They expect $0.08 earnings per share, down 42.86% or $0.06 from last year’s $0.14 per share. RDI’s profit will be $1.87 million for 48.72 P/E if the $0.08 EPS becomes a reality. After $0.16 actual earnings per share reported by Reading International, Inc. for the previous quarter, Wall Street now forecasts -50.00% negative EPS growth.

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 2016 Q2. 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.
Schwab Charles Inv Mgmt accumulated 0% or 23,000 shares. Nationwide Fund accumulated 11,466 shares or 0% of the stock. Van Den Berg Mgmt I Inc accumulated 186,880 shares or 0.3% of the stock. Royal Savings Bank Of Canada holds 170 shares or 0% of its portfolio. The Massachusetts-based Panagora Asset Management has invested 0% in Reading International, Inc. (NASDAQ:RDI). State Common Retirement Fund holds 15,100 shares or 0% of its portfolio. Financial Bank Of America De accumulated 0% or 8,594 shares. Allianz Asset Mngmt Ag reported 74,250 shares or 0% of all its holdings. James Invest Research holds 179,231 shares or 0.06% of its portfolio. Parametric Portfolio Assoc Ltd Limited Liability Company has invested 0% of its portfolio in Reading International, Inc. (NASDAQ:RDI). Blackrock Limited Co has invested 0% of its portfolio in Reading International, Inc. (NASDAQ:RDI). Stifel Financial Corp holds 0% of its portfolio in Reading International, Inc. (NASDAQ:RDI) for 12,700 shares. Savings Bank Of New York Mellon last reported 0% of its portfolio in the stock. Earnest Partners Ltd Liability Company has 2,400 shares for 0% of their US portfolio. Moreover, Martingale Asset Management L P has 0% invested in Reading International, Inc. (NASDAQ:RDI) for 16,908 shares.

Insider Transactions: Since August 12, 2016, the stock had 0 buys, and 4 insider sales for $3.50 million net activity. $812,232 worth of shares were sold by Cotter James J JR on Tuesday, September 6.

Another recent and important Reading International, Inc. (NASDAQ:RDI) news was published by Latimes.com which published an article titled: “Siblings clash over control of LA-based movie theater chain Reading International” on November 22, 2016.

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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