Reading International (NASDAQ:RDI) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the stock.

Separately, Macquarie lifted their target price on Reading International from $2.00 to $2.40 and gave the stock a neutral rating in a research report on Tuesday, July 9th.

Reading International Stock Down 0.6 %

Shares of RDI opened at $1.79 on Friday. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $2.34. The company’s fifty day moving average is $1.52 and its two-hundred day moving average is $1.62. The firm has a market cap of $40.15 million, a PE ratio of -1.22 and a beta of 1.61. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 15.80.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The business had revenue of $46.81 million during the quarter.

Hedge Funds Weigh In On Reading International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wittenberg Investment Management Inc. grew its holdings in Reading International by 3.2% in the 4th quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock worth $2,868,000 after buying an additional 46,586 shares in the last quarter. Logan Stone Capital LLC acquired a new stake in Reading International in the second quarter worth about $38,000. Finally, Krilogy Financial LLC increased its stake in 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 buying an additional 124,326 shares during the period. Institutional investors and hedge funds 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.