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

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a research report report published on Thursday morning. The brokerage issued a sell rating on the stock.

Reading International Price Performance

RDI stock opened at $1.51 on Thursday. Reading International has a 52 week low of $1.22 and a 52 week high of $2.15. The company’s 50-day simple moving average is $1.50 and its 200 day simple moving average is $1.53. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Logan Stone Capital LLC acquired a new stake in shares of Reading International during the 2nd quarter worth $38,000. Wittenberg Investment Management Inc. lifted its position in Reading International by 1.4% during the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after purchasing an additional 21,483 shares during the period. Finally, Krilogy Financial LLC grew its stake in Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after buying an additional 124,326 shares in the last quarter. 44.70% of the stock is owned by institutional investors.

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.