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

Equities researchers at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI – Get Rating) in a research note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Reading International Stock Performance

NASDAQ:RDI opened at $2.90 on Wednesday. The stock has a 50 day simple moving average of $3.17 and a 200 day simple moving average of $3.25. The stock has a market cap of $64.33 million, a P/E ratio of -2.01 and a beta of 1.58. Reading International has a 1-year low of $2.65 and a 1-year high of $4.88. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 3.21.

Reading International (NASDAQ:RDI – Get Rating) last posted its earnings results on Monday, April 3rd. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.26). Reading International had a negative return on equity of 45.76% and a negative net margin of 15.31%. The firm had revenue of $47.20 million for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Atria Wealth Solutions Inc. bought a new stake in Reading International during the first quarter worth $54,000. Tower Research Capital LLC TRC lifted its position in shares of Reading International by 236.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 17,005 shares of the company’s stock worth $56,000 after buying an additional 11,951 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in Reading International in the first quarter valued at about $71,000. Marquette Asset Management LLC grew its position in Reading International by 58.3% in the fourth quarter. Marquette Asset Management LLC now owns 40,348 shares of the company’s stock valued at $112,000 after acquiring an additional 14,859 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in Reading International by 25.3% during the first quarter. Gabelli Funds LLC now owns 62,000 shares of the company’s stock worth $202,000 after acquiring an additional 12,500 shares in the last quarter. Institutional investors own 50.98% of the company’s stock.

About Reading International

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Reading International, Inc is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the Cinema Exhibition and Real Estate segments.