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

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research report sent to investors on Tuesday morning. The brokerage issued a sell rating on the stock.

Reading International Stock Up 3.4 %

Shares of NASDAQ RDI opened at $1.51 on Tuesday. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $33.87 million, a price-to-earnings ratio of -0.78 and a beta of 1.61. The stock has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.54. Reading International has a 52-week low of $1.22 and a 52-week high of $2.15.

Institutional Trading of Reading International

A number of large investors have recently modified their holdings of RDI. Logan Stone Capital LLC purchased a new stake in Reading International during the second quarter worth $38,000. Wittenberg Investment Management Inc. lifted its holdings 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 buying an additional 21,483 shares during the period. Finally, Krilogy Financial LLC lifted its holdings in Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after buying an additional 124,326 shares during the period. Hedge funds and other 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.