Reading International (NASDAQ:RDI) Now Covered by StockNews.com

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

Reading International Stock Down 3.1 %

Shares of RDI opened at $1.25 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04. Reading International has a 12 month low of $1.22 and a 12 month high of $2.15. The firm’s 50 day moving average is $1.44 and its 200-day moving average is $1.51. The stock has a market capitalization of $28.03 million, a PE ratio of -0.66 and a beta of 1.60.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. boosted its position in Reading International, Inc. (NASDAQ:RDI) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,558,791 shares of the company’s stock after acquiring an additional 21,483 shares during the quarter. Reading International accounts for 0.8% of Wittenberg Investment Management Inc.’s holdings, making the stock its 21st largest holding. Wittenberg Investment Management Inc. owned 6.95% of Reading International worth $2,541,000 at the end of the most recent quarter. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

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.