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

Analysts at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a report released on Thursday. The brokerage set a “sell” rating on the stock.

Reading International Stock Performance

Reading International stock opened at $1.42 on Thursday. Reading International has a 12-month low of $1.22 and a 12-month high of $3.07. The stock has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $1.78. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 8.61. The stock has a market capitalization of $31.85 million, a price-to-earnings ratio of -0.97 and a beta of 1.58.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.59) earnings per share for the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%. The company had revenue of $45.05 million during the quarter.

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. lifted its position in shares of Reading International, Inc. (NASDAQ:RDI) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,512,738 shares of the company’s stock after purchasing an additional 11,140 shares during the quarter. Reading International accounts for 0.9% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 20th largest position. Wittenberg Investment Management Inc. owned approximately 6.77% of Reading International worth $2,783,000 at the end of the most recent reporting period. 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.