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

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

Separately, Macquarie upped 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.

Reading International Price Performance

Shares of NASDAQ:RDI opened at $1.47 on Friday. The company’s 50-day moving average is $1.53 and its 200 day moving average is $1.74. The company has a debt-to-equity ratio of 8.61, a quick ratio of 0.17 and a current ratio of 0.17. The company has a market capitalization of $32.97 million, a P/E ratio of -1.00 and a beta of 1.59. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $3.07.

Reading International (NASDAQ:RDI) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.59) EPS for the quarter. The business had revenue of $45.05 million for the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. grew its stake in shares of Reading International, Inc. (NASDAQ:RDI) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,501,598 shares of the company’s stock after purchasing an additional 46,586 shares during the quarter. Reading International makes up approximately 1.0% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 22nd biggest position. Wittenberg Investment Management Inc. owned 6.77% of Reading International worth $2,868,000 at the end of the most recent reporting period. 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.