Reading International (NASDAQ:RDI) Coverage Initiated by Analysts at StockNews.com

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

Reading International Price Performance

RDI opened at $1.83 on Tuesday. The business’s fifty day moving average is $1.84 and its two-hundred day moving average is $1.90. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.29 and a current ratio of 0.29. The company has a market cap of $40.86 million, a price-to-earnings ratio of -1.32 and a beta of 1.59. Reading International has a one year low of $1.68 and a one year high of $3.35.

Hedge Funds Weigh In On Reading International

Institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. purchased a new stake in shares of Reading International in the first quarter worth about $54,000. Tower Research Capital LLC TRC boosted its holdings in Reading International by 236.5% in the third quarter. Tower Research Capital LLC TRC now owns 17,005 shares of the company’s stock valued at $56,000 after purchasing an additional 11,951 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new position in Reading International in the first quarter valued at about $71,000. Gabelli Funds LLC boosted its holdings 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 during the last quarter. Finally, BlackRock Inc. boosted its holdings in Reading International by 6.2% in the second quarter. BlackRock Inc. now owns 96,902 shares of the company’s stock valued at $257,000 after purchasing an additional 5,629 shares during the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.