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

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

Reading International Stock Performance

NASDAQ:RDI opened at $1.19 on Friday. The firm’s fifty day simple moving average is $1.39 and its 200 day simple moving average is $1.45. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04. Reading International has a twelve month low of $1.17 and a twelve month high of $1.89. The firm has a market capitalization of $26.69 million, a price-to-earnings ratio of -0.63 and a beta of 1.28.

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

Institutional Inflows and Outflows

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