StockNews.com Initiates Coverage on Reading International (NASDAQ:RDI)

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Monday. The firm set a “sell” rating on the stock.

Separately, Macquarie raised their price target on shares of Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th.

Reading International Stock Down 0.6 %

Shares of NASDAQ RDI opened at $1.61 on Monday. Reading International has a 1 year low of $1.22 and a 1 year high of $2.28. The firm has a 50-day simple moving average of $1.59 and a two-hundred day simple moving average of $1.62. The company has a market cap of $36.11 million, a P/E ratio of -1.10 and a beta of 1.61. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.18 and a quick ratio of 0.18.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The business had revenue of $46.81 million for the quarter.

Institutional Investors Weigh In On Reading International

Several hedge funds have recently made changes to their positions in the company. Logan Stone Capital LLC bought a new stake in shares of Reading International in the second quarter valued at about $38,000. Wittenberg Investment Management Inc. raised its holdings in shares of Reading International by 3.2% in the 4th quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock valued at $2,868,000 after purchasing an additional 46,586 shares in the last quarter. Finally, Krilogy Financial LLC lifted its position in shares of Reading International by 6.7% in the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after purchasing an additional 124,326 shares during the period. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

About Reading International

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.