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

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

Reading International Price Performance

Shares of NASDAQ RDI opened at $1.34 on Wednesday. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. The business has a 50-day moving average of $1.47 and a 200-day moving average of $1.49. The stock has a market capitalization of $30.05 million, a price-to-earnings ratio of -0.71 and a beta of 1.62. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $1.90.

Institutional Investors Weigh In On Reading International

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Reading International by 10.1% in the fourth 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 period. Wells Fargo & Company MN grew its holdings in shares of Reading International by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after purchasing an additional 36,561 shares in the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Reading International in the fourth quarter worth $354,000. Gamco Investors INC. ET AL raised its stake in Reading International by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Krilogy Financial LLC lifted its position in Reading International by 11.6% during the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after purchasing an additional 246,000 shares during the period. 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.