StockNews.com Initiates Coverage on Reading International (NASDAQ:RDI)

Investment analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note issued on Tuesday. The brokerage set a “sell” rating on the stock.

Reading International Price Performance

RDI opened at $1.75 on Tuesday. The stock has a fifty day moving average of $1.84 and a 200-day moving average of $1.90. The firm has a market capitalization of $39.13 million, a P/E ratio of -1.27 and a beta of 1.59. Reading International has a 12-month low of $1.68 and a 12-month high of $3.35. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 5.27.

Institutional Trading of Reading International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Atria Wealth Solutions Inc. acquired a new position in Reading International during the first quarter worth $54,000. Tower Research Capital LLC TRC increased its position in Reading International by 236.5% during the third 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 position in Reading International during the first quarter worth $71,000. Gabelli Funds LLC increased its position 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 buying an additional 12,500 shares during the last quarter. Finally, BlackRock Inc. increased its position in Reading International by 6.2% during the second quarter. BlackRock Inc. now owns 96,902 shares of the company’s stock worth $257,000 after buying an additional 5,629 shares during the last quarter. 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.