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

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research report sent to investors on Wednesday morning. The firm issued a sell rating on the stock.

Reading International Stock Performance

Shares of RDI opened at $1.62 on Wednesday. The stock’s 50-day simple moving average is $1.51 and its 200 day simple moving average is $1.53. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17. Reading International has a 52-week low of $1.22 and a 52-week high of $2.15. The stock has a market capitalization of $36.34 million, a price-to-earnings ratio of -0.86 and a beta of 1.60.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Logan Stone Capital LLC bought a new position in Reading International during the 2nd quarter valued at approximately $38,000. Wittenberg Investment Management Inc. lifted its stake in Reading International by 1.4% in the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after acquiring an additional 21,483 shares during the period. Finally, Krilogy Financial LLC boosted its holdings in 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 acquiring an additional 124,326 shares in the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.

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.