Macquarie Increases Reading International (NASDAQ:RDI) Price Target to $2.40

Reading International (NASDAQ:RDI) had its price objective raised by equities researchers at Macquarie from $2.00 to $2.40 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Macquarie’s price objective points to a potential upside of 73.91% from the stock’s current price.

Separately, StockNews.com assumed coverage on shares of Reading International in a research note on Friday, July 5th. They set a “sell” rating for the company.

Reading International Trading Down 0.6 %

NASDAQ:RDI opened at $1.38 on Tuesday. Reading International has a one year low of $1.22 and a one year high of $3.07. The company has a debt-to-equity ratio of 8.61, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $30.95 million, a P/E ratio of -0.94 and a beta of 1.59. The firm has a 50-day simple moving average of $1.54 and a 200-day simple moving average of $1.75.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.59) EPS for the quarter. The business had revenue of $45.05 million during the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. boosted its stake in shares of Reading International, Inc. (NASDAQ:RDI) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,512,738 shares of the company’s stock after purchasing an additional 11,140 shares during the period. Reading International makes up about 0.9% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 20th biggest position. Wittenberg Investment Management Inc. owned approximately 6.77% of Reading International worth $2,783,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.