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

StockNews.com started coverage on shares of Reading International (NASDAQ:RDI) in a report released on Tuesday morning. The firm issued a sell rating on the stock.

Reading International Stock Up 1.4 %

Shares of NASDAQ RDI opened at $1.47 on Tuesday. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. The company has a 50-day moving average price of $1.47 and a 200-day moving average price of $1.51. Reading International has a 1 year low of $1.22 and a 1 year high of $1.92. The stock has a market capitalization of $32.97 million, a P/E ratio of -0.78 and a beta of 1.62.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after purchasing an additional 19,224 shares in the last quarter. Wells Fargo & Company MN raised its position in Reading International by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after acquiring an additional 36,561 shares during the period. MassMutual Private Wealth & Trust FSB bought a new stake in Reading International in the fourth quarter worth about $354,000. Gamco Investors INC. ET AL raised its position in Reading International by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock worth $359,000 after acquiring an additional 9,500 shares during the period. Finally, Wittenberg Investment Management Inc. raised its position in Reading International by 1.4% in 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 during the period. 44.70% of the stock is owned by institutional investors.

Reading International Company Profile

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.