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

Stock analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Thursday. The firm set a “sell” rating on the stock.

Separately, Macquarie boosted their price objective on Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a research note on Tuesday, July 9th.

Reading International Price Performance

Shares of NASDAQ:RDI opened at $1.70 on Thursday. The company’s 50-day moving average is $1.65 and its 200 day moving average is $1.59. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $38.12 million, a P/E ratio of -1.16 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.

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

Institutional Investors Weigh In On Reading International

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