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

Stock analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued on Monday. The firm set a “sell” rating on the stock.

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

Reading International Stock Performance

NASDAQ:RDI opened at $1.55 on Monday. Reading International has a 52-week low of $1.22 and a 52-week high of $2.76. The business’s fifty day moving average is $1.46 and its 200 day moving average is $1.69. The company has a debt-to-equity ratio of 8.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $34.77 million, a price-to-earnings ratio of -1.05 and a beta of 1.59.

Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.59) EPS for the quarter. The firm had revenue of $45.05 million for the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%.

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. raised its holdings in shares of Reading International, Inc. (NASDAQ:RDI) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,512,738 shares of the company’s stock after acquiring an additional 11,140 shares during the period. Reading International comprises approximately 0.9% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 20th biggest holding. Wittenberg Investment Management Inc. owned about 6.77% of Reading International worth $2,783,000 at the end of the most recent quarter. 44.70% of the stock is owned by 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.