Reading International (NASDAQ:RDI) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research note released on Wednesday. The brokerage issued a sell rating on the stock.

Separately, Macquarie lifted their price objective 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 Stock Up 1.9 %

Shares of RDI stock opened at $1.65 on Wednesday. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $2.27. The firm has a market capitalization of $37.00 million, a PE ratio of -1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock’s 50-day simple moving average is $1.64 and its 200-day simple moving average is $1.60.

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

Hedge Funds Weigh In On Reading International

Several institutional investors have recently made changes to their positions in the company. Wittenberg Investment Management Inc. raised its holdings in Reading International by 0.7% in 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 period. Logan Stone Capital LLC acquired a new position in shares of Reading International during the 2nd quarter worth approximately $38,000. Finally, Krilogy Financial LLC lifted its position in shares of Reading International by 6.7% during the 2nd 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. 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.