Reading International (NASDAQ:RDI) Earns Sell Rating from Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the stock.

Reading International Price Performance

Shares of NASDAQ RDI opened at $1.46 on Tuesday. The stock has a market capitalization of $32.75 million, a price-to-earnings ratio of -0.74 and a beta of 1.61. Reading International has a 52 week low of $1.22 and a 52 week high of $2.15. The firm has a 50-day simple moving average of $1.52 and a 200-day simple moving average of $1.54. 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 Investors Weigh In On Reading International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wittenberg Investment Management Inc. raised its stake 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. Logan Stone Capital LLC purchased a new stake in Reading International in the second quarter valued at approximately $38,000. Finally, Krilogy Financial LLC lifted its stake in Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after purchasing an additional 124,326 shares in the last quarter. 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.