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

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a research note issued to investors on Sunday. The brokerage issued a sell rating on the stock.

Separately, Macquarie boosted their target price on Reading International from $2.00 to $2.40 and gave the stock a neutral rating in a report on Tuesday, July 9th.

Reading International Stock Down 3.9 %

RDI opened at $1.33 on Friday. The company has a debt-to-equity ratio of 8.61, a current ratio of 0.17 and a quick ratio of 0.17. The stock has a market capitalization of $29.83 million, a price-to-earnings ratio of -0.90 and a beta of 1.59. The business has a 50-day moving average of $1.49 and a two-hundred day moving average of $1.71. Reading International has a 12 month low of $1.22 and a 12 month high of $2.84.

Reading International (NASDAQ:RDI) last issued its earnings results on Wednesday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter. Reading International had a negative return on equity of 93.46% and a negative net margin of 14.77%. The firm had revenue of $45.05 million for 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 6.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,982,288 shares of the company’s stock after purchasing an additional 124,326 shares during the period. Krilogy Financial LLC owned about 8.84% of Reading International worth $2,815,000 as of its most recent SEC filing. 44.70% of the stock is owned by institutional investors and hedge funds.

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.