StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI – Free Report) in a report issued on Friday. The brokerage issued a sell rating on the stock.
Separately, Macquarie raised their target price on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a report on Tuesday, July 9th.
Check Out Our Latest Stock Report on RDI
Reading International Price Performance
Reading International (NASDAQ:RDI – Get Free Report) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. The business had revenue of $46.81 million for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%.
Hedge Funds Weigh In On Reading International
Large investors have recently made changes to their positions in the company. Logan Stone Capital LLC purchased a new position in Reading International in the second quarter valued at $38,000. Wittenberg Investment Management Inc. grew 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 valued at $2,783,000 after acquiring an additional 11,140 shares during the period. Finally, Krilogy Financial LLC raised its holdings in Reading International by 6.7% in 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 during the period. 44.70% of the stock is currently owned by institutional investors and hedge funds.
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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