Reading International (NASDAQ:RDI) Price Target Raised to $2.40

Reading International (NASDAQ:RDI) had its price objective boosted by Macquarie from $2.00 to $2.40 in a research note issued to investors on Tuesday, Benzinga reports. Macquarie currently has a neutral rating on the stock.

Separately, StockNews.com assumed coverage on shares of Reading International in a research report on Friday, July 5th. They set a sell rating on the stock.

Reading International Stock Performance

Reading International stock opened at $1.44 on Tuesday. The firm’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.75. The company has a market cap of $32.30 million, a P/E ratio of -0.98 and a beta of 1.59. The company has a debt-to-equity ratio of 8.61, a current ratio of 0.17 and a quick ratio of 0.17. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $3.07.

Reading International (NASDAQ:RDI) last released its earnings results on Wednesday, May 15th. The company reported ($0.59) earnings per share for the quarter. Reading International had a negative return on equity of 93.46% and a negative net margin of 14.77%. The firm had revenue of $45.05 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Reading International stock. Wittenberg Investment Management Inc. boosted its stake in shares of Reading International, Inc. (NASDAQ:RDI) by 3.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,501,598 shares of the company’s stock after purchasing an additional 46,586 shares during the period. Reading International comprises approximately 1.0% of Wittenberg Investment Management Inc.’s holdings, making the stock its 22nd largest position. Wittenberg Investment Management Inc. owned approximately 6.77% of Reading International worth $2,868,000 as of its most recent SEC filing. 44.70% of the stock is owned by hedge funds and other institutional investors.

Reading International Company 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.