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

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a research note published on Friday. The brokerage issued a sell rating on the stock.

Reading International Stock Down 3.0 %

Shares of NASDAQ RDI opened at $1.30 on Friday. The firm’s 50-day moving average is $1.48 and its two-hundred day moving average is $1.52. The company has a market capitalization of $29.15 million, a PE ratio of -0.69 and a beta of 1.60. Reading International has a 12-month low of $1.22 and a 12-month high of $2.15. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17.

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. increased its position in Reading International, Inc. (NASDAQ:RDI) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,558,791 shares of the company’s stock after buying an additional 21,483 shares during the period. Reading International comprises 0.8% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 21st largest holding. Wittenberg Investment Management Inc. owned approximately 6.95% of Reading International worth $2,541,000 at the end of the most recent quarter. 44.70% of the stock is currently 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.