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

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

Reading International Trading Down 3.4 %

Reading International stock opened at $1.40 on Monday. Reading International has a 52 week low of $1.22 and a 52 week high of $2.15. The stock has a 50-day simple moving average of $1.58 and a 200 day simple moving average of $1.55. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market capitalization of $31.40 million, a P/E ratio of -0.74 and a beta of 1.61.

Institutional Trading of Reading International

Several hedge funds have recently added to or reduced their stakes in the company. Logan Stone Capital LLC bought a new position in shares of Reading International during the second quarter worth approximately $38,000. Wittenberg Investment Management Inc. grew its position 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 in the last quarter. Finally, Krilogy Financial LLC increased its stake in Reading International by 6.7% during the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after acquiring an additional 124,326 shares during the period. 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.