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

Research analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a report released on Wednesday. The brokerage set a “sell” rating on the stock.

Reading International Stock Down 1.4 %

Shares of NASDAQ RDI opened at $1.38 on Wednesday. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. Reading International has a 1 year low of $1.22 and a 1 year high of $1.92. The stock has a market capitalization of $30.95 million, a P/E ratio of -0.73 and a beta of 1.62. The company has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.49.

Institutional Trading of Reading International

Several institutional investors and hedge funds have recently modified their holdings of RDI. MassMutual Private Wealth & Trust FSB bought a new stake in Reading International during the fourth quarter worth $354,000. Krilogy Financial LLC boosted its holdings in Reading International by 11.6% during 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 during the last quarter. Wells Fargo & Company MN boosted its holdings in Reading International by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after acquiring an additional 36,561 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 19,224 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Reading International by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares during the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.

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.