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

Posted by on Apr 6th, 2023

Stock analysts at StockNews.com began coverage on shares of Reading International (NASDAQ:RDI – Get Rating) in a research report issued on Thursday. The brokerage set a “sell” rating on the stock.

Reading International Stock Down 1.9 %

Shares of Reading International stock opened at $3.08 on Thursday. The business has a fifty day simple moving average of $3.46 and a 200 day simple moving average of $3.32. The stock has a market cap of $67.76 million, a PE ratio of -3.02 and a beta of 1.58. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.30. Reading International has a 12 month low of $2.65 and a 12 month high of $4.88.

Reading International (NASDAQ:RDI – Get Rating) last issued its earnings results on Monday, April 3rd. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.26). The company had revenue of $47.20 million for the quarter. Reading International had a negative return on equity of 24.08% and a negative net margin of 10.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marquette Asset Management LLC boosted its holdings in shares of Reading International by 58.3% in the fourth quarter. Marquette Asset Management LLC now owns 40,348 shares of the company’s stock valued at $112,000 after buying an additional 14,859 shares during the period. Eidelman Virant Capital increased its holdings in Reading International by 9.1% during the 3rd quarter. Eidelman Virant Capital now owns 1,263,010 shares of the company’s stock worth $4,180,000 after purchasing an additional 105,498 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Reading International by 89.7% in the 1st quarter. Vanguard Group Inc. now owns 608,778 shares of the company’s stock valued at $2,606,000 after purchasing an additional 287,907 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Reading International by 4.1% in the first quarter. Gamco Investors INC. ET AL now owns 231,200 shares of the company’s stock valued at $990,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Reading International by 186.4% during the fourth quarter. Wells Fargo & Company MN now owns 97,447 shares of the company’s stock worth $270,000 after buying an additional 63,421 shares during the period. 50.98% of the stock is owned by institutional investors and hedge funds.

About Reading International

(Get Rating)

Reading International, Inc is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the Cinema Exhibition and Real Estate segments.

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