Reading International (NASDAQ:RDI) Now Covered by StockNews.com

Equities research analysts at StockNews.com initiated 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.

Reading International Trading Up 5.1 %

RDI stock opened at $1.45 on Friday. Reading International has a 52-week low of $1.22 and a 52-week high of $2.12. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04. The firm has a market cap of $32.52 million, a P/E ratio of -0.77 and a beta of 1.61. The company’s 50-day simple moving average is $1.43 and its 200-day simple moving average is $1.51.

Institutional Investors Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. raised its stake in Reading International, Inc. (NASDAQ:RDI) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,558,791 shares of the company’s stock after buying an additional 21,483 shares during the quarter. Reading International makes up approximately 0.8% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 21st largest position. Wittenberg Investment Management Inc. owned about 6.95% of Reading International worth $2,541,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 44.70% of the company’s stock.

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.