Reading International (NASDAQ:RDI) Now Covered by StockNews.com

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

Reading International Trading Down 6.7 %

Shares of Reading International stock opened at $1.40 on Friday. The firm has a market cap of $31.40 million, a price-to-earnings ratio of -0.74 and a beta of 1.62. Reading International has a 52-week low of $1.22 and a 52-week high of $1.97. The company’s 50-day simple moving average is $1.47 and its 200-day simple moving average is $1.54. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04.

Institutional Trading of Reading International

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after acquiring an additional 19,224 shares during the period. Wells Fargo & Company MN boosted its position in shares of Reading International by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after purchasing an additional 36,561 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Reading International during the 4th quarter worth $354,000. Gamco Investors INC. ET AL increased its holdings in shares of Reading International by 3.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares in the last quarter. Finally, Wittenberg Investment Management Inc. lifted its stake in shares of Reading International by 1.4% in the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after purchasing an additional 21,483 shares during the period. 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.