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

Equities research analysts at StockNews.com began coverage on shares of Reading International (NASDAQ:RDIGet Rating) in a report issued on Saturday. The brokerage set a “sell” rating on the stock.

Separately, TheStreet cut shares of Reading International from a “c-” rating to a “d” rating in a report on Wednesday, May 18th.

Reading International Price Performance

Shares of Reading International stock opened at $3.80 on Friday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.66 and a quick ratio of 0.66. The business’s 50 day simple moving average is $4.19 and its two-hundred day simple moving average is $4.02. The stock has a market capitalization of $83.58 million, a P/E ratio of -3.04 and a beta of 1.52. Reading International has a one year low of $3.25 and a one year high of $5.41.

Institutional Trading of Reading International

Several hedge funds have recently bought and sold shares of the stock. Eidelman Virant Capital grew its stake in Reading International by 8.4% in the 2nd quarter. Eidelman Virant Capital now owns 1,157,512 shares of the company’s stock worth $4,537,000 after acquiring an additional 89,329 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Reading International by 89.7% in the first quarter. Vanguard Group Inc. now owns 608,778 shares of the company’s stock worth $2,606,000 after buying an additional 287,907 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Reading International by 4.1% in the first quarter. Gamco Investors INC. ET AL now owns 231,200 shares of the company’s stock worth $990,000 after buying an additional 9,000 shares during the last quarter. Gabelli Funds LLC raised its holdings in shares of Reading International by 17.9% during the first quarter. Gabelli Funds LLC now owns 49,500 shares of the company’s stock worth $212,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Reading International during the first quarter worth $71,000. Hedge funds and other institutional investors own 53.93% of the company’s stock.

Reading International Company Profile

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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.

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