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

StockNews.com began coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Sunday morning. The brokerage issued a sell rating on the stock.

Reading International Stock Performance

NASDAQ:RDI opened at $1.40 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 15.80. Reading International has a twelve month low of $1.22 and a twelve month high of $2.15. The company has a fifty day moving average of $1.59 and a 200-day moving average of $1.56. The firm has a market capitalization of $31.40 million, a P/E ratio of -0.79 and a beta of 1.61.

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

Institutional Investors Weigh In On Reading International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wittenberg Investment Management Inc. grew its holdings in shares of Reading International by 1.4% during the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after buying an additional 21,483 shares during the last quarter. Logan Stone Capital LLC bought a new position in Reading International in the 2nd quarter valued at about $38,000. Finally, Krilogy Financial LLC boosted its stake in Reading International by 6.7% during the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after purchasing an additional 124,326 shares during the last quarter. 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.