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

Equities researchers at StockNews.com started 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 Price Performance

NASDAQ:RDI opened at $1.44 on Friday. Reading International has a one year low of $1.22 and a one year high of $1.95. The company has a market cap of $32.29 million, a P/E ratio of -0.77 and a beta of 1.62. The firm’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $1.53. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17.

Hedge Funds Weigh In On Reading International

Institutional investors and hedge funds have recently modified their holdings of the stock. Krilogy Financial LLC increased its holdings in shares of Reading International by 11.6% in the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after purchasing an additional 246,000 shares during the last quarter. Wittenberg Investment Management Inc. grew its stake in shares of Reading International by 1.4% in the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after acquiring an additional 21,483 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Reading International in the fourth quarter valued at about $354,000. Wells Fargo & Company MN grew its stake in shares of Reading International by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after acquiring an additional 36,561 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake 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 acquiring an additional 19,224 shares in the last quarter. 44.70% of the stock is currently 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.