Reading International, Inc. (NASDAQ:RDI) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP cut its stake in shares of Reading International, Inc. (NASDAQ:RDI) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 385,000 shares of the company’s stock after selling 90,000 shares during the period. Yacktman Asset Management LP owned approximately 1.72% of Reading International worth $508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Krilogy Financial LLC grew its holdings in shares of Reading International by 11.6% in the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after purchasing an additional 246,000 shares in the last quarter. Wittenberg Investment Management Inc. grew its stake in shares of Reading International by 1.4% in the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after acquiring an additional 21,483 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in shares of Reading International during the fourth quarter worth $354,000. 44.70% of the stock is owned by hedge funds and other institutional investors.

Reading International Stock Performance

RDI stock opened at $1.55 on Tuesday. Reading International, Inc. has a fifty-two week low of $1.22 and a fifty-two week high of $2.05. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17. The business has a 50 day moving average price of $1.47 and a 200 day moving average price of $1.53.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Reading International in a research report on Thursday, February 6th. They issued a “sell” rating on the stock.

Reading International 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.