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

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a report released on Tuesday. The firm set a “sell” rating on the stock.

Separately, Macquarie raised their target price on Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a research note on Tuesday, July 9th.

Reading International Trading Up 1.2 %

Shares of RDI stock opened at $1.63 on Tuesday. The stock has a 50-day simple moving average of $1.61 and a 200 day simple moving average of $1.61. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $2.27. The stock has a market capitalization of $36.55 million, a P/E ratio of -1.11 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 announced its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The firm had revenue of $46.81 million for the quarter.

Institutional Investors Weigh In On Reading International

A number of large investors have recently made changes to their positions in the company. Krilogy Financial LLC raised its position in Reading International by 6.7% during the second 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. Wittenberg Investment Management Inc. boosted its position in Reading International by 3.2% during the 4th quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock worth $2,868,000 after acquiring an additional 46,586 shares during the period. Finally, Logan Stone Capital LLC purchased a new position in Reading International during the 2nd quarter valued at about $38,000. 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.