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

Equities research analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued on Tuesday. The brokerage set a “sell” rating on the stock.

Reading International Stock Performance

Shares of RDI stock opened at $1.46 on Tuesday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04. The company has a market cap of $32.75 million, a PE ratio of -0.74 and a beta of 1.61. Reading International has a 12-month low of $1.22 and a 12-month high of $2.15. The business’s fifty day simple moving average is $1.52 and its 200-day simple moving average is $1.54.

Institutional Trading of Reading International

Large investors have recently added to or reduced their stakes in the company. Wittenberg Investment Management Inc. boosted its position in Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after purchasing an additional 21,483 shares in the last quarter. Logan Stone Capital LLC acquired a new position in shares of Reading International in the 2nd quarter valued at $38,000. Finally, Krilogy Financial LLC boosted its holdings in Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after buying an additional 124,326 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

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.