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

Investment analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the stock.

Separately, Macquarie raised their price target on shares of Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a research report on Tuesday, July 9th.

Reading International Stock Down 0.7 %

Shares of Reading International stock traded down $0.01 on Wednesday, hitting $1.37. The company had a trading volume of 642 shares, compared to its average volume of 15,597. Reading International has a 1 year low of $1.22 and a 1 year high of $2.60. The company has a debt-to-equity ratio of 8.61, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a 50 day moving average of $1.42 and a 200-day moving average of $1.65. The stock has a market capitalization of $30.72 million, a price-to-earnings ratio of -0.94 and a beta of 1.59.

Reading International (NASDAQ:RDI) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter. The company had revenue of $46.81 million during the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Krilogy Financial LLC grew its position in shares of 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 acquiring an additional 124,326 shares during the period. Wittenberg Investment Management Inc. lifted its stake in Reading International by 3.2% in the fourth quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock valued at $2,868,000 after purchasing an additional 46,586 shares during the last quarter. Finally, Logan Stone Capital LLC bought a new position in Reading International during the second quarter valued at $38,000. 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.