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

Research analysts at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a note issued to investors on Friday. The brokerage set a “sell” rating on the stock.

Separately, Macquarie increased their target price on shares of Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th.

Reading International Stock Up 6.0 %

Reading International stock opened at $1.77 on Friday. The firm has a market capitalization of $39.69 million, a P/E ratio of -1.20 and a beta of 1.59. The stock’s fifty day simple moving average is $1.47 and its 200-day simple moving average is $1.64. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 8.61. Reading International has a twelve month low of $1.22 and a twelve month high of $2.59.

Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. The firm had revenue of $46.81 million for the quarter. Reading International had a negative return on equity of 93.46% and a negative net margin of 14.77%.

Institutional Investors Weigh In On Reading International

A number of hedge funds have recently added to or reduced their stakes in the company. Logan Stone Capital LLC acquired a new stake in shares of Reading International during the 2nd quarter valued at approximately $38,000. Wittenberg Investment Management Inc. increased its stake in shares of Reading International by 0.7% during the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after purchasing an additional 11,140 shares in the last quarter. Finally, Krilogy Financial LLC increased its stake in shares of Reading International by 6.7% during the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after purchasing an additional 124,326 shares in the last quarter. Institutional investors and hedge funds 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.