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

Analysts at StockNews.com began coverage on shares of Reading International (NASDAQ:RDI) in a report released on Friday. The firm set a “sell” rating on the stock.

Reading International Price Performance

NASDAQ RDI opened at $1.54 on Friday. The firm’s 50 day moving average is $1.47 and its 200-day moving average is $1.53. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04. The company has a market capitalization of $34.54 million, a PE ratio of -0.82 and a beta of 1.62. Reading International has a 12-month low of $1.22 and a 12-month high of $2.05.

Hedge Funds Weigh In On Reading International

Large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB bought a new stake in Reading International during the fourth quarter worth about $354,000. Krilogy Financial LLC increased its position in shares of Reading International by 11.6% during the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after purchasing an additional 246,000 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Reading International by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after buying an additional 36,561 shares during the last quarter. Wittenberg Investment Management Inc. boosted its holdings in shares of Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after buying an additional 21,483 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Reading International by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after buying an additional 19,224 shares in the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.