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

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Monday. The firm issued a sell rating on the stock.

Reading International Price Performance

Shares of RDI opened at $1.31 on Monday. Reading International has a twelve month low of $1.22 and a twelve month high of $1.95. The firm’s fifty day simple moving average is $1.48 and its 200-day simple moving average is $1.52. The firm has a market capitalization of $29.38 million, a price-to-earnings ratio of -0.70 and a beta of 1.62. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04.

Institutional Investors Weigh In On Reading International

Hedge funds and other institutional investors have recently modified their holdings of the company. Krilogy Financial LLC raised its holdings in shares of 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 purchasing an additional 246,000 shares in the last quarter. Wittenberg Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 21,483 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Reading International in the 4th quarter valued at $354,000. Wells Fargo & Company MN grew its position in shares of 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after buying an additional 19,224 shares during the last quarter. 44.70% of the stock is currently 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.