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

Stock analysts at StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Thursday. The brokerage set a “sell” rating on the stock.

Reading International Stock Performance

Shares of Reading International stock opened at $1.31 on Thursday. 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 capitalization of $29.38 million, a price-to-earnings ratio of -0.70 and a beta of 1.62. The business has a 50-day moving average of $1.46 and a 200 day moving average of $1.48. Reading International has a 12 month low of $1.22 and a 12 month high of $1.90.

Reading International (NASDAQ:RDI) last announced its earnings results on Monday, March 31st. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.31. The firm had revenue of $58.58 million for the quarter, compared to the consensus estimate of $53.00 million. Reading International had a negative net margin of 21.22% and a negative return on equity of 258.21%.

Institutional Investors Weigh In On Reading International

A number of hedge funds have recently bought and sold shares of RDI. Gamco Investors INC. ET AL grew its position in shares of Reading International by 3.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock worth $359,000 after buying an additional 9,500 shares in the last quarter. Geode Capital Management LLC lifted its stake in Reading International by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after acquiring an additional 19,224 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Reading International by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after acquiring an additional 36,561 shares during the last quarter. Krilogy Financial LLC increased its position in shares of Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after purchasing an additional 246,000 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Reading International in the 4th 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.