Reading International (NASDAQ:RDI) Earns Sell Rating from Analysts at StockNews.com

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

Reading International Stock Down 8.8 %

RDI stock opened at $1.65 on Wednesday. Reading International has a 52 week low of $1.22 and a 52 week high of $2.05. The company has a market capitalization of $37.00 million, a price-to-earnings ratio of -0.88 and a beta of 1.61. The firm’s 50-day moving average is $1.45 and its two-hundred day moving average is $1.52. 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 Trading of Reading International

Several hedge funds and other institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Reading International during the 4th quarter worth $354,000. Wittenberg Investment Management Inc. increased 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 during the last quarter. Finally, Krilogy Financial LLC increased 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 buying an additional 246,000 shares during the last quarter. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

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.