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

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Saturday morning. The firm issued a sell rating on the stock.

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

Reading International Stock Down 2.3 %

RDI stock opened at $1.48 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 15.80. The company’s 50-day moving average price is $1.63 and its 200 day moving average price is $1.57. Reading International has a 52 week low of $1.22 and a 52 week high of $2.15. The company has a market cap of $33.19 million, a P/E ratio of -0.84 and a beta of 1.61.

Reading International (NASDAQ:RDI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter. Reading International had a negative return on equity of 153.86% and a negative net margin of 19.32%. The firm had revenue of $46.81 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RDI. Krilogy Financial LLC raised its stake in Reading International by 6.7% in the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after purchasing an additional 124,326 shares during the last quarter. Wittenberg Investment Management Inc. boosted its stake in shares of Reading International by 0.7% during the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after purchasing an additional 11,140 shares during the last quarter. Finally, Logan Stone Capital LLC purchased a new stake in shares of Reading International during the second quarter worth about $38,000. 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.