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

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

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

Reading International Stock Performance

Shares of RDI stock opened at $1.80 on Friday. Reading International has a 12-month low of $1.22 and a 12-month high of $2.33. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 15.80. The firm’s 50 day moving average is $1.55 and its 200 day moving average is $1.62. The stock has a market capitalization of $40.37 million, a P/E ratio of -1.22 and a beta of 1.61.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. The business had revenue of $46.81 million for the quarter. Reading International had a negative return on equity of 153.86% and a negative net margin of 19.32%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RDI. Logan Stone Capital LLC acquired a new stake in Reading International during the second quarter valued at $38,000. Wittenberg Investment Management Inc. grew its position in Reading International by 0.7% during the first quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock valued at $2,783,000 after buying an additional 11,140 shares during the period. Finally, Krilogy Financial LLC grew its position in Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $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.

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.