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

StockNews.com assumed coverage on shares of Reading International (NASDAQ:RDI) in a report released on Thursday. The firm set a “sell” rating on the stock.

Reading International Price Performance

NASDAQ:RDI opened at $1.27 on Thursday. The stock has a 50-day simple moving average of $1.45 and a 200 day simple moving average of $1.47. Reading International has a 52-week low of $1.22 and a 52-week high of $1.90. The company has a market cap of $28.48 million, a PE ratio of -0.68 and a beta of 1.62. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.31. The company had revenue of $58.58 million during the quarter, compared to analysts’ expectations of $53.00 million. Reading International had a negative net margin of 21.22% and a negative return on equity of 258.21%.

Hedge Funds Weigh In On Reading International

Several hedge funds have recently modified their holdings of RDI. Krilogy Financial LLC boosted its holdings in shares of Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after buying an additional 246,000 shares during the last quarter. MassMutual Private Wealth & Trust FSB bought a new stake in Reading International during the fourth quarter worth $354,000. Wells Fargo & Company MN lifted its stake in Reading International by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after acquiring an additional 36,561 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after acquiring an additional 19,224 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of Reading International by 3.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after acquiring an additional 9,500 shares during the period. Institutional investors own 44.70% of the company’s stock.

Reading International Company Profile

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.