Reading International (NASDAQ:RDI) Given New $2.40 Price Target at Macquarie

Reading International (NASDAQ:RDI) had its price objective raised by Macquarie from $2.00 to $2.40 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Separately, StockNews.com initiated coverage on Reading International in a research note on Friday, July 5th. They issued a sell rating on the stock.

Reading International Stock Performance

Shares of RDI stock opened at $1.44 on Tuesday. The business’s 50 day simple moving average is $1.53 and its 200 day simple moving average is $1.75. Reading International has a one year low of $1.22 and a one year high of $3.07. The stock has a market capitalization of $32.30 million, a PE ratio of -0.98 and a beta of 1.59. The company has a debt-to-equity ratio of 8.61, a current ratio of 0.17 and a quick ratio of 0.17.

Reading International (NASDAQ:RDI) last announced its earnings results on Wednesday, May 15th. The company reported ($0.59) EPS for the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%. The company had revenue of $45.05 million during the quarter.

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Krilogy Financial LLC raised its holdings in Reading International, Inc. (NASDAQ:RDI) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,854,408 shares of the company’s stock after buying an additional 86,013 shares during the quarter. Krilogy Financial LLC owned 8.36% of Reading International worth $3,542,000 as of its most recent SEC filing. Institutional investors own 44.70% of the company’s stock.

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.