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

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a research report released on Wednesday morning. The firm issued a sell rating on the stock.

Reading International Stock Performance

Reading International stock opened at $1.25 on Wednesday. The stock’s 50 day moving average is $1.47 and its 200 day moving average is $1.49. The company has a market capitalization of $28.03 million, a P/E ratio of -0.66 and a beta of 1.62. Reading International has a twelve month low of $1.22 and a twelve month high of $1.90. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04.

Hedge Funds Weigh In On Reading International

A number of hedge funds have recently bought and sold shares of the company. Krilogy Financial LLC increased its stake in Reading International by 11.6% during the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after purchasing an additional 246,000 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Reading International by 3.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after buying an additional 9,500 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Reading International during the fourth quarter valued at approximately $354,000. Wells Fargo & Company MN raised its holdings in Reading International by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after acquiring an additional 36,561 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after acquiring an additional 19,224 shares during the last quarter. 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.