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

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

Reading International Price Performance

NASDAQ RDI opened at $1.40 on Tuesday. The firm’s fifty day simple moving average is $1.42 and its two-hundred day simple moving average is $1.51. The firm has a market capitalization of $31.40 million, a P/E ratio of -0.74 and a beta of 1.61. 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 $2.07.

Hedge Funds Weigh In On Reading International

Several hedge funds have recently modified their holdings of RDI. Logan Stone Capital LLC acquired a new stake in Reading International during the 2nd quarter worth about $38,000. Krilogy Financial LLC raised its stake in shares of Reading International by 11.6% in the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after purchasing an additional 246,000 shares during the last quarter. Wittenberg Investment Management Inc. lifted its holdings in shares of Reading International by 1.4% during the third 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 during the period. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in Reading International in the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds 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.