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

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

Reading International Stock Up 2.9 %

Shares of NASDAQ RDI opened at $1.44 on Friday. The firm’s 50-day simple moving average is $1.46 and its 200 day simple moving average is $1.54. The company has a market cap of $32.29 million, a price-to-earnings ratio of -0.77 and a beta of 1.62. 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 12-month low of $1.22 and a 12-month high of $1.95.

Hedge Funds Weigh In On Reading International

Hedge funds have recently made changes to their positions in the business. Wittenberg Investment Management Inc. lifted its position in 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. Krilogy Financial LLC raised its position in 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 buying an additional 246,000 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new stake in Reading International in the 4th quarter valued at $354,000. Geode Capital Management LLC increased its position in shares of Reading International by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after purchasing an additional 19,224 shares during the last quarter. Finally, Wells Fargo & Company MN increased 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 worth $301,000 after acquiring an additional 36,561 shares during the last quarter. 44.70% of the stock is owned by 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.