StockNews.com Initiates Coverage on Reading International (NASDAQ:RDI)

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

Reading International Stock Performance

Shares of RDI opened at $1.44 on Friday. The stock has a 50-day moving average of $1.47 and a two-hundred day moving average of $1.53. The stock has a market cap of $32.29 million, a P/E ratio of -0.77 and a beta of 1.62. Reading International has a one year low of $1.22 and a one year high of $1.95. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RDI. Geode Capital Management LLC increased its position in shares of Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after acquiring an additional 19,224 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Reading International by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after buying an additional 36,561 shares during the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Reading International during the fourth quarter worth about $354,000. Gamco Investors INC. ET AL boosted its holdings in Reading International by 3.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Wittenberg Investment Management Inc. boosted its holdings in Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after purchasing an additional 21,483 shares in the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.