Reading International (NASDAQ:RDI) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Reading International Price Performance

NASDAQ RDI opened at $1.60 on Wednesday. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $2.15. The stock’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.53. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $35.89 million, a P/E ratio of -0.85 and a beta of 1.60.

Hedge Funds Weigh In On Reading International

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDI. Logan Stone Capital LLC bought a new position in Reading International during the second quarter valued at about $38,000. Wittenberg Investment Management Inc. increased its stake in 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 acquiring an additional 21,483 shares during the period. Finally, Krilogy Financial LLC increased its stake in Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after acquiring an additional 124,326 shares during the period. 44.70% of the stock is currently owned by institutional investors.

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.