Reading International (NASDAQ:RDI) Earns Sell Rating from Analysts at StockNews.com

Analysts at StockNews.com began coverage on shares of Reading International (NASDAQ:RDI) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the stock.

Reading International Price Performance

Shares of NASDAQ RDI opened at $1.61 on Thursday. The firm’s 50-day moving average price is $1.47 and its 200-day moving average price is $1.53. Reading International has a 1-year low of $1.22 and a 1-year high of $2.05. The firm has a market capitalization of $36.11 million, a P/E ratio of -0.86 and a beta of 1.62. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04.

Hedge Funds Weigh In On Reading International

Institutional investors have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB acquired a new position in shares of Reading International during the fourth quarter valued at about $354,000. Wittenberg Investment Management Inc. increased its position in shares of Reading International by 1.4% during the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after acquiring an additional 21,483 shares in the last quarter. Finally, Krilogy Financial LLC increased its position in shares of Reading International by 11.6% during the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after acquiring an additional 246,000 shares in the last quarter. Institutional investors and hedge funds 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.