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

StockNews.com began coverage on shares of Reading International (NASDAQ:RDI) in a research note released on Monday. The brokerage issued a sell rating on the stock.

Reading International Trading Down 4.3 %

RDI opened at $1.34 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 15.80. Reading International has a 52 week low of $1.22 and a 52 week high of $2.15. The business’s 50 day moving average is $1.57 and its two-hundred day moving average is $1.55. The firm has a market cap of $30.05 million, a price-to-earnings ratio of -0.71 and a beta of 1.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Krilogy Financial LLC grew its position in 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 buying an additional 124,326 shares during the last quarter. Logan Stone Capital LLC purchased a new position in Reading International during the second quarter worth about $38,000. Finally, Wittenberg Investment Management Inc. lifted its position in 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 purchasing an additional 21,483 shares during the period. 44.70% of the stock is currently owned by hedge funds and other 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.