Equities researchers at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI – Get Free Report) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the stock.
Separately, Macquarie increased their target price on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th.
Reading International Price Performance
Reading International (NASDAQ:RDI – Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. Reading International had a negative return on equity of 153.86% and a negative net margin of 19.32%. The company had revenue of $46.81 million during the quarter.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Logan Stone Capital LLC bought a new position in shares of Reading International in the second quarter worth $38,000. Wittenberg Investment Management Inc. grew its stake in shares of Reading International by 3.2% in the fourth quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock worth $2,868,000 after purchasing an additional 46,586 shares in the last quarter. Finally, Krilogy Financial LLC grew its stake in shares of Reading International by 6.7% in 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 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.
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