Reading International (NASDAQ:RDI) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a report released on Thursday. The brokerage issued a sell rating on the stock.

Reading International Stock Performance

Shares of RDI stock remained flat at $1.70 during mid-day trading on Thursday. The stock had a trading volume of 1,296 shares, compared to its average volume of 12,419. The firm has a market capitalization of $38.01 million, a P/E ratio of -1.23 and a beta of 1.59. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.29 and a current ratio of 0.29. Reading International has a twelve month low of $1.53 and a twelve month high of $3.27. The firm’s 50-day moving average is $1.77 and its 200-day moving average is $1.86.

Reading International (NASDAQ:RDI) last announced its earnings results on Friday, March 29th. The company reported ($0.56) earnings per share (EPS) for the quarter. The business had revenue of $45.32 million for the quarter. Reading International had a negative return on equity of 70.68% and a negative net margin of 13.77%.

Hedge Funds Weigh In On Reading International

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. increased its stake in shares of Reading International, Inc. (NASDAQ:RDI) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,512,738 shares of the company’s stock after purchasing an additional 11,140 shares during the quarter. Reading International makes up approximately 0.9% of Wittenberg Investment Management Inc.’s holdings, making the stock its 20th largest holding. Wittenberg Investment Management Inc. owned 6.77% of Reading International worth $2,783,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 44.70% of the company’s stock.

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.