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

Investment analysts at StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Monday. The firm set a “sell” rating on the stock.

Reading International Stock Performance

Shares of RDI stock opened at $1.27 on Monday. Reading International has a 12 month low of $1.22 and a 12 month high of $2.15. The company’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $1.55. The firm has a market cap of $28.49 million, a PE ratio of -0.68 and a beta of 1.61. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04.

Institutional Trading of Reading International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Krilogy Financial LLC grew its stake in shares of Reading International by 6.7% in 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 in the last quarter. Logan Stone Capital LLC acquired a new stake in Reading International in the second quarter valued at $38,000. Finally, Wittenberg Investment Management Inc. grew its position in shares of Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after acquiring an additional 21,483 shares during the period. Institutional investors 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.