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

Investment analysts at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a report released on Wednesday. The brokerage set a “sell” rating on the stock.

Separately, Macquarie lifted their target price on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th.

Reading International Price Performance

Shares of NASDAQ RDI opened at $1.58 on Wednesday. The stock’s 50-day simple moving average is $1.63 and its 200-day simple moving average is $1.60. The firm has a market capitalization of $35.43 million, a PE ratio of -1.07 and a beta of 1.61. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $2.27. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.18 and a current ratio of 0.18.

Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. Reading International had a negative return on equity of 153.86% and a negative net margin of 19.32%. The company had revenue of $46.81 million for the quarter.

Hedge Funds Weigh In On Reading International

A number of hedge funds have recently modified their holdings of the business. Logan Stone Capital LLC acquired a new position in Reading International in the 2nd quarter valued at about $38,000. Krilogy Financial LLC grew its stake in shares of Reading International by 6.7% in the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after purchasing an additional 124,326 shares during the last quarter. Finally, Wittenberg Investment Management Inc. increased its holdings in shares of Reading International by 0.7% in the first quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock valued at $2,783,000 after purchasing an additional 11,140 shares during the period. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

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.