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

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a report issued on Thursday. The firm issued a sell rating on the stock.

Separately, Macquarie boosted their price objective on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th.

Reading International Price Performance

RDI opened at $1.63 on Thursday. Reading International has a 1 year low of $1.22 and a 1 year high of $2.15. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market capitalization of $36.55 million, a price-to-earnings ratio of -1.11 and a beta of 1.61. The firm’s fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.59.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The firm had revenue of $46.81 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Logan Stone Capital LLC purchased a new stake in Reading International during the second quarter valued at about $38,000. Wittenberg Investment Management Inc. lifted its position in shares of Reading International by 0.7% during the first quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after acquiring an additional 11,140 shares in the last quarter. Finally, Krilogy Financial LLC boosted its holdings in shares of Reading International by 6.7% in the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after acquiring an additional 124,326 shares during the period. 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.