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

StockNews.com began coverage on shares of Reading International (NASDAQ:RDI) in a research report sent to investors on Wednesday morning. The firm issued a sell rating on the stock.

Reading International Price Performance

RDI opened at $1.65 on Wednesday. Reading International has a 12-month low of $1.53 and a 12-month high of $3.35. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 5.27. The business’s fifty day simple moving average is $1.80 and its 200-day simple moving average is $1.88. The company has a market capitalization of $36.89 million, a price-to-earnings ratio of -1.20 and a beta of 1.59.

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

Hedge Funds Weigh In On Reading International

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. boosted its stake in shares of Reading International, Inc. (NASDAQ:RDI) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,455,012 shares of the company’s stock after purchasing an additional 26,824 shares during the quarter. Reading International comprises 1.1% of Wittenberg Investment Management Inc.’s holdings, making the stock its 19th largest holding. Wittenberg Investment Management Inc. owned 6.56% of Reading International worth $3,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.