Reading International (NASDAQ:RDI) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Reading International Stock Performance

NASDAQ RDI opened at $1.64 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 5.27. The firm’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $1.88. Reading International has a 1 year low of $1.53 and a 1 year high of $3.35. The firm has a market capitalization of $36.67 million, a P/E ratio of -1.19 and a beta of 1.59.

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

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. increased its holdings in shares of Reading International, Inc. (NASDAQ:RDI) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,501,598 shares of the company’s stock after acquiring an additional 46,586 shares during the quarter. Reading International comprises about 1.0% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Wittenberg Investment Management Inc. owned approximately 6.77% of Reading International worth $2,868,000 at the end of the most recent quarter. 44.70% of the stock is owned by hedge funds and other 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.