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

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Wednesday. The brokerage set a “sell” rating on the stock.

Reading International Price Performance

Shares of NASDAQ:RDI opened at $1.55 on Wednesday. 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 twelve month low of $1.22 and a twelve month high of $2.05. The stock’s 50 day moving average is $1.46 and its 200-day moving average is $1.52. The firm has a market capitalization of $34.77 million, a price-to-earnings ratio of -0.82 and a beta of 1.61.

Hedge Funds Weigh In On Reading International

Institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Reading International during the fourth quarter worth approximately $354,000. Wittenberg Investment Management Inc. raised its position in Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after buying an additional 21,483 shares during the last quarter. Finally, 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. 44.70% of the stock is owned by institutional investors and hedge funds.

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.