Yacktman Asset Management LP Sells 10,000 Shares of Reading International, Inc. (NASDAQ:RDI)

Yacktman Asset Management LP lessened its holdings in Reading International, Inc. (NASDAQ:RDI) by 2.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the company’s stock after selling 10,000 shares during the quarter. Yacktman Asset Management LP owned approximately 2.25% of Reading International worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Wittenberg Investment Management Inc. grew its position in shares of Reading International by 1.9% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,455,012 shares of the company’s stock worth $3,085,000 after buying an additional 26,824 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

Reading International Price Performance

RDI traded up $0.01 during trading on Friday, hitting $1.65. The company’s stock had a trading volume of 11,768 shares, compared to its average volume of 15,178. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 5.27. Reading International, Inc. has a twelve month low of $1.53 and a twelve month high of $3.35. The business’s fifty day simple moving average is $1.81 and its 200 day simple moving average is $1.88. The firm has a market capitalization of $36.89 million, a price-to-earnings ratio of -1.19 and a beta of 1.59.

Reading International (NASDAQ:RDI) last released its earnings results on Friday, March 29th. The company reported ($0.56) earnings per share for the quarter. The firm had revenue of $45.32 million during the quarter. Reading International had a negative net margin of 13.77% and a negative return on equity of 70.68%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Reading International in a research note on Wednesday. They set a “sell” rating for the company.

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.