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

Analysts at 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 Stock Down 5.4 %

Reading International stock opened at $1.57 on Wednesday. The company has a market capitalization of $35.22 million, a P/E ratio of -0.84 and a beta of 1.60. Reading International has a 1-year low of $1.22 and a 1-year high of $2.15. The firm’s fifty day simple moving average is $1.51 and its 200-day simple moving average is $1.53. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04.

Institutional Investors Weigh In On Reading International

A number of large investors have recently added to or reduced their stakes in the stock. Logan Stone Capital LLC bought a new stake in Reading International during the second quarter valued at about $38,000. Wittenberg Investment Management Inc. boosted its stake in Reading International by 1.4% during the 3rd 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 during the period. Finally, Krilogy Financial LLC grew 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 valued at $2,815,000 after buying an additional 124,326 shares during the last quarter. Institutional investors 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.