StockNews.com Initiates Coverage on Reading International (NASDAQ:RDI)

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research report report published on Friday morning. The brokerage issued a sell rating on the stock.

Separately, Macquarie increased their target price on shares of 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 Trading Up 1.7 %

RDI opened at $1.80 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 8.61. The firm has a market cap of $40.37 million, a price-to-earnings ratio of -1.22 and a beta of 1.59. Reading International has a 12 month low of $1.22 and a 12 month high of $2.59. The stock has a fifty day moving average price of $1.48 and a 200-day moving average price of $1.64.

Reading International (NASDAQ:RDI) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. The company had revenue of $46.81 million during the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%.

Institutional Investors Weigh In On Reading International

Several institutional investors have recently added to or reduced their stakes in the business. Wittenberg Investment Management Inc. raised its position in shares of Reading International by 3.2% in the 4th quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock valued at $2,868,000 after purchasing an additional 46,586 shares during the last quarter. Krilogy Financial LLC increased its stake in 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 purchasing an additional 124,326 shares in the last quarter. Finally, Logan Stone Capital LLC acquired a new position in Reading International during the 2nd quarter valued at approximately $38,000. 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.