Logan Stone Capital LLC Acquires New Shares in Reading International, Inc. (NASDAQ:RDI)

Logan Stone Capital LLC acquired a new stake in Reading International, Inc. (NASDAQ:RDI) during the second quarter, Holdings Channel reports. The fund acquired 26,639 shares of the company’s stock, valued at approximately $38,000.

Separately, Wittenberg Investment Management Inc. lifted its stake in Reading International by 3.2% during the fourth quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock worth $2,868,000 after purchasing an additional 46,586 shares in the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RDI has been the topic of a number of research reports. StockNews.com initiated coverage on Reading International in a research note on Monday, September 23rd. They set a “sell” rating on the stock. Macquarie upped their price target on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th.

Reading International Stock Performance

NASDAQ:RDI opened at $1.61 on Friday. The firm has a market capitalization of $36.11 million, a PE ratio of -1.10 and a beta of 1.61. The business’s fifty day moving average price is $1.60 and its 200 day moving average price is $1.61. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.18 and a quick ratio of 0.18. Reading International, Inc. has a 12 month low of $1.22 and a 12 month high of $2.27.

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

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.