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

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research report released on Monday. The brokerage issued a sell rating on the stock.

Reading International Stock Performance

Reading International stock opened at $1.31 on Monday. The firm has a 50 day simple moving average of $1.48 and a 200-day simple moving average of $1.52. Reading International has a 1-year low of $1.22 and a 1-year high of $1.95. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market cap of $29.38 million, a price-to-earnings ratio of -0.70 and a beta of 1.62.

Institutional Trading of Reading International

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in shares of Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after buying an additional 19,224 shares during the period. Wells Fargo & Company MN grew its stake in shares of Reading International by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after buying an additional 36,561 shares during the period. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Reading International in the 4th quarter worth approximately $354,000. Gamco Investors INC. ET AL lifted its holdings in shares of Reading International by 3.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock worth $359,000 after acquiring an additional 9,500 shares during the last quarter. Finally, Wittenberg Investment Management Inc. lifted its holdings in shares of Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after acquiring an additional 21,483 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.