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

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

Reading International Stock Performance

RDI opened at $1.35 on Wednesday. The company has a market cap of $30.28 million, a price-to-earnings ratio of -0.72 and a beta of 1.62. The firm’s fifty day simple moving average is $1.47 and its two-hundred day simple moving average is $1.49. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04. Reading International has a 52-week low of $1.22 and a 52-week high of $1.90.

Hedge Funds Weigh In On Reading International

Several hedge funds and other institutional investors have recently modified their holdings of RDI. Krilogy Financial LLC boosted its holdings in shares of Reading International by 11.6% during the 4th 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. MassMutual Private Wealth & Trust FSB acquired a new position in Reading International during the fourth quarter worth $354,000. Geode Capital Management LLC boosted its stake in Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after buying an additional 19,224 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Reading International by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after buying an additional 36,561 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Reading International by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock worth $359,000 after acquiring an additional 9,500 shares during the period. 44.70% of the stock is owned by hedge funds and other institutional investors.

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.