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

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

Reading International Trading Down 1.1 %

NASDAQ:RDI opened at $1.82 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 3.94. The business’s 50 day moving average is $1.89 and its two-hundred day moving average is $1.95. Reading International has a 52 week low of $1.70 and a 52 week high of $3.58. The company has a market cap of $40.37 million, a PE ratio of -1.28 and a beta of 1.59.

Institutional Trading of Reading International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. acquired a new stake in shares of Reading International during the 1st quarter worth approximately $54,000. Tower Research Capital LLC TRC raised its position in shares of Reading International by 236.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 17,005 shares of the company’s stock worth $56,000 after purchasing an additional 11,951 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in shares of Reading International during the 1st quarter worth approximately $71,000. Gabelli Funds LLC raised its position in shares of Reading International by 25.3% during the 1st quarter. Gabelli Funds LLC now owns 62,000 shares of the company’s stock worth $202,000 after purchasing an additional 12,500 shares during the period. Finally, BlackRock Inc. increased its position in Reading International by 6.2% in the 2nd quarter. BlackRock Inc. now owns 96,902 shares of the company’s stock valued at $257,000 after acquiring an additional 5,629 shares during the period. 47.35% of the stock is currently owned by institutional investors and hedge funds.

About Reading International

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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.

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