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

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

Reading International Stock Down 6.7 %

RDI opened at $1.40 on Friday. Reading International has a one year low of $1.22 and a one year high of $1.97. The company has a market cap of $31.40 million, a price-to-earnings ratio of -0.74 and a beta of 1.62. The business’s fifty day moving average is $1.47 and its two-hundred day moving average is $1.54. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17.

Hedge Funds Weigh In On Reading International

Several hedge funds have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its position in shares of Reading International by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares during the last quarter. Wells Fargo & Company MN increased its stake in Reading International by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after purchasing an additional 36,561 shares during the last quarter. Geode Capital Management LLC increased its stake in Reading International by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after purchasing an additional 19,224 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in Reading International during the fourth quarter worth about $354,000. Finally, Krilogy Financial LLC boosted its stake in Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after buying an additional 246,000 shares during the last quarter. 44.70% of the stock is currently 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.