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

StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a research report sent to investors on Saturday. The brokerage issued a sell rating on the stock.

Separately, Macquarie upped their price target on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a report on Tuesday, July 9th.

Reading International Trading Down 2.3 %

RDI opened at $1.48 on Friday. The stock has a market capitalization of $33.19 million, a PE ratio of -0.84 and a beta of 1.61. Reading International has a one year low of $1.22 and a one year high of $2.15. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.18 and a current ratio of 0.18. The business’s 50 day moving average price is $1.63 and its 200 day moving average price is $1.57.

Reading International (NASDAQ:RDI) last announced its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The firm had revenue of $46.81 million during the quarter.

Hedge Funds Weigh In On Reading International

Hedge funds have recently modified their holdings of the business. Wittenberg Investment Management Inc. boosted its stake in shares of Reading International by 0.7% during the first quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after buying an additional 11,140 shares during the period. Krilogy Financial LLC lifted its position in Reading International by 6.7% during the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after acquiring an additional 124,326 shares during the period. Finally, Logan Stone Capital LLC acquired a new stake in Reading International during the 2nd quarter worth approximately $38,000. 44.70% of the stock is currently 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.