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

Analysts at StockNews.com initiated coverage on shares of Reading International (NASDAQ:RDI) in a research note issued on Tuesday. The firm set a “sell” rating on the stock.

Reading International Trading Up 1.2 %

RDI opened at $1.75 on Tuesday. The stock has a market capitalization of $39.13 million, a P/E ratio of -1.27 and a beta of 1.59. Reading International has a 12 month low of $1.68 and a 12 month high of $3.35. The firm’s fifty day simple moving average is $1.84 and its 200 day simple moving average is $1.90. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 5.27.

Hedge Funds Weigh In On Reading International

Hedge funds have recently made changes to their positions in the business. Atria Wealth Solutions Inc. bought a new position in shares of Reading International in the 1st quarter valued at about $54,000. Tower Research Capital LLC TRC raised its holdings in Reading International by 236.5% during the third quarter. Tower Research Capital LLC TRC now owns 17,005 shares of the company’s stock worth $56,000 after acquiring an additional 11,951 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Reading International during the first quarter valued at approximately $71,000. Gabelli Funds LLC grew its stake in Reading International by 25.3% in the first quarter. Gabelli Funds LLC now owns 62,000 shares of the company’s stock valued at $202,000 after purchasing an additional 12,500 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Reading International by 6.2% during the 2nd quarter. BlackRock Inc. now owns 96,902 shares of the company’s stock worth $257,000 after purchasing an additional 5,629 shares during the last quarter. 44.70% of the stock is owned by 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.