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

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

Reading International Stock Performance

NASDAQ:RDI opened at $1.40 on Monday. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17. The firm’s 50-day moving average is $1.43 and its 200-day moving average is $1.51. Reading International has a 52-week low of $1.22 and a 52-week high of $2.12. The company has a market cap of $31.40 million, a price-to-earnings ratio of -0.74 and a beta of 1.61.

Institutional Investors Weigh In On Reading International

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. raised its stake in Reading International, Inc. (NASDAQ:RDI) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,558,791 shares of the company’s stock after acquiring an additional 21,483 shares during the period. Reading International comprises about 0.8% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Wittenberg Investment Management Inc. owned 6.95% of Reading International worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.