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

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

Reading International Price Performance

NASDAQ RDI opened at $1.45 on Tuesday. Reading International has a 52 week low of $1.22 and a 52 week high of $1.92. The firm has a market capitalization of $32.52 million, a P/E ratio of -0.77 and a beta of 1.62. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04. The company has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.51.

Institutional Investors Weigh In On Reading International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its holdings in Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after acquiring an additional 246,000 shares in the last quarter. Wittenberg Investment Management Inc. boosted its stake 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 during the period. MassMutual Private Wealth & Trust FSB bought a new position in Reading International in the 4th quarter worth approximately $354,000. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 36,561 shares during the period. Finally, Geode Capital Management LLC boosted its stake 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 purchasing an additional 19,224 shares during the period. 44.70% of the stock is owned by hedge funds and other 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.