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

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

Reading International Trading Up 3.0 %

Reading International stock opened at $1.71 on Tuesday. The stock has a 50-day moving average price of $1.83 and a 200 day moving average price of $1.89. The company has a market capitalization of $38.23 million, a price-to-earnings ratio of -1.24 and a beta of 1.59. Reading International has a 52 week low of $1.53 and a 52 week high of $3.35. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 5.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC raised its stake in shares of Reading International by 18.3% during the 4th quarter. Nantahala Capital Management LLC now owns 3,402,203 shares of the company’s stock valued at $6,498,000 after buying an additional 526,163 shares during the last quarter. Vanguard Group Inc. grew its holdings in Reading International by 89.7% during the first quarter. Vanguard Group Inc. now owns 608,778 shares of the company’s stock worth $2,606,000 after acquiring an additional 287,907 shares during the period. Krilogy Financial LLC raised its position in Reading International by 8.2% during the third quarter. Krilogy Financial LLC now owns 1,768,395 shares of the company’s stock valued at $3,749,000 after acquiring an additional 133,485 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Reading International by 186.4% in the fourth quarter. Wells Fargo & Company MN now owns 97,447 shares of the company’s stock valued at $270,000 after acquiring an additional 63,421 shares during the period. Finally, Wittenberg Investment Management Inc. lifted its holdings in Reading International by 3.2% in the fourth quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock valued at $2,868,000 after acquiring an additional 46,586 shares during the period. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.