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

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

Separately, Macquarie raised their price objective on shares of Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a research note on Tuesday, July 9th.

Reading International Price Performance

Shares of NASDAQ:RDI opened at $1.58 on Wednesday. Reading International has a 52 week low of $1.22 and a 52 week high of $2.27. The company has a 50-day moving average price of $1.63 and a 200 day moving average price of $1.60. The company has a market cap of $35.43 million, a P/E ratio of -1.07 and a beta of 1.61. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 15.80.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. The business had revenue of $46.81 million during the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%.

Institutional Trading of Reading International

Several large investors have recently bought and sold shares of RDI. Krilogy Financial LLC increased its stake in shares of Reading International by 6.7% during the 2nd 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. Wittenberg Investment Management Inc. grew its holdings in Reading International by 0.7% during the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock valued at $2,783,000 after buying an additional 11,140 shares during the last quarter. Finally, Logan Stone Capital LLC purchased a new position in Reading International during the second quarter worth $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.