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

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a research note released on Wednesday morning. The firm issued a sell rating on the stock.

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

Reading International Price Performance

Shares of RDI opened at $1.65 on Wednesday. Reading International has a 1-year low of $1.22 and a 1-year high of $2.27. The stock has a market cap of $37.01 million, a PE ratio of -0.93 and a beta of 1.61. The firm has a 50-day simple moving average of $1.64 and a two-hundred day simple moving average of $1.60. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.18 and a quick ratio of 0.18.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wittenberg Investment Management Inc. lifted its position in shares of Reading International by 0.7% during the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after buying an additional 11,140 shares during the last quarter. Logan Stone Capital LLC purchased a new stake in shares of Reading International during the 2nd quarter worth approximately $38,000. Finally, Krilogy Financial LLC lifted its position 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 buying an additional 124,326 shares during the last quarter. Institutional investors and hedge funds own 44.70% of the company’s stock.

Reading International Company Profile

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.