Reading International (NASDAQ:RDI) Now Covered by 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 Friday. The brokerage set a “sell” rating on the stock.

Reading International Stock Performance

Shares of RDI stock opened at $1.73 on Friday. Reading International has a one year low of $1.53 and a one year high of $3.24. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s 50 day moving average price is $1.76 and its 200-day moving average price is $1.85. The firm has a market cap of $38.68 million, a P/E ratio of -1.25 and a beta of 1.59.

Reading International (NASDAQ:RDI) last released its quarterly earnings results on Friday, March 29th. The company reported ($0.56) EPS for the quarter. The firm had revenue of $45.32 million for the quarter. Reading International had a negative return on equity of 70.68% and a negative net margin of 13.77%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. increased its position in shares of Reading International, Inc. (NASDAQ:RDI) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,512,738 shares of the company’s stock after purchasing an additional 11,140 shares during the period. Reading International accounts for approximately 0.9% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 20th largest position. Wittenberg Investment Management Inc. owned 6.77% of Reading International worth $2,783,000 at the end of the most recent 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.