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

StockNews.com began coverage on shares of Reading International (NASDAQ:RDIFree Report) in a research note issued to investors on Saturday. The firm issued a sell rating on the stock.

Reading International Stock Up 1.7 %

Shares of Reading International stock opened at $1.78 on Friday. The company has a debt-to-equity ratio of 8.61, a current ratio of 0.17 and a quick ratio of 0.29. Reading International has a 12-month low of $1.53 and a 12-month high of $3.10. The company’s fifty day simple moving average is $1.75 and its two-hundred day simple moving average is $1.84.

Reading International (NASDAQ:RDIGet Free Report) last announced its quarterly earnings results on Friday, March 29th. The company reported ($0.56) earnings per share (EPS) for the quarter. Reading International had a negative net margin of 14.77% and a negative return on equity of 93.46%. The company had revenue of $45.32 million for the quarter.

Institutional Trading of Reading International

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. increased its holdings in shares of Reading International, Inc. (NASDAQ:RDIFree Report) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,455,012 shares of the company’s stock after acquiring an additional 26,824 shares during the period. Reading International makes up 1.1% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 19th largest holding. Wittenberg Investment Management Inc. owned about 6.56% of Reading International worth $3,085,000 as of its most recent SEC filing. 44.70% of the stock is currently owned by institutional investors and hedge funds.

Reading International Company Profile

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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.

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