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

Equities research analysts at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Sunday. The brokerage set a “sell” rating on the stock.

Reading International Stock Up 5.1 %

RDI stock opened at $1.45 on Friday. Reading International has a one year low of $1.22 and a one year high of $2.12. The firm has a market cap of $32.52 million, a PE ratio of -0.77 and a beta of 1.61. The firm’s 50 day moving average price is $1.43 and its 200-day moving average price is $1.51. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17.

Institutional Trading of Reading International

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. grew its position in Reading International, Inc. (NASDAQ:RDI) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,558,791 shares of the company’s stock after buying an additional 21,483 shares during the quarter. Reading International accounts for 0.8% of Wittenberg Investment Management Inc.’s holdings, making the stock its 21st largest holding. Wittenberg Investment Management Inc. owned approximately 6.95% of Reading International worth $2,541,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.