StockNews.com Begins Coverage on Reading International (NASDAQ:RDI)

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Monday morning. The firm issued a sell rating on the stock.

Reading International Stock Performance

Shares of RDI opened at $1.34 on Monday. 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 has a 52-week low of $1.22 and a 52-week high of $2.15. The company has a 50-day simple moving average of $1.57 and a 200-day simple moving average of $1.55. The company has a market capitalization of $30.05 million, a PE ratio of -0.71 and a beta of 1.61.

Institutional Investors Weigh In On Reading International

Several institutional investors have recently modified their holdings of the company. Logan Stone Capital LLC purchased a new position in Reading International during the 2nd quarter valued at about $38,000. Wittenberg Investment Management Inc. increased its stake in shares of Reading International by 1.4% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after purchasing an additional 21,483 shares in the last quarter. Finally, Krilogy Financial LLC raised 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 purchasing an additional 124,326 shares during the last quarter. Hedge funds and other 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.