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

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a research report issued to clients and investors on Wednesday. The brokerage set a “sell” rating on the stock.

Reading International Trading Down 8.8 %

NASDAQ RDI opened at $1.65 on Wednesday. The stock’s 50-day moving average is $1.45 and its 200-day moving average is $1.52. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. Reading International has a one year low of $1.22 and a one year high of $2.05. The firm has a market cap of $37.00 million, a P/E ratio of -0.88 and a beta of 1.61.

Institutional Trading of Reading International

Institutional investors and hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB bought a new position in Reading International during the fourth quarter worth about $354,000. Wittenberg Investment Management Inc. boosted its stake in shares of Reading International by 1.4% during the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after purchasing an additional 21,483 shares in the last quarter. Finally, Krilogy Financial LLC grew its stake in shares of Reading International by 11.6% in the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after purchasing an additional 246,000 shares during 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.