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

Analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research report issued to clients and investors on Tuesday. The brokerage set a “sell” rating on the stock.

Reading International Price Performance

Reading International stock opened at $1.83 on Tuesday. Reading International has a twelve month low of $1.68 and a twelve month high of $3.35. The firm has a 50 day moving average price of $1.84 and a 200-day moving average price of $1.90. The company has a market capitalization of $40.86 million, a P/E ratio of -1.32 and a beta of 1.59. 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

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Reading International by 89.7% during the 1st quarter. Vanguard Group Inc. now owns 608,778 shares of the company’s stock valued at $2,606,000 after buying an additional 287,907 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of Reading International by 4.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 231,200 shares of the company’s stock valued at $990,000 after buying an additional 9,000 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Reading International by 17.9% during the 1st quarter. Gabelli Funds LLC now owns 49,500 shares of the company’s stock valued at $212,000 after buying an additional 7,500 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Reading International during the 1st quarter valued at $71,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Reading International during the 1st quarter valued at $54,000. 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.