Wittenberg Investment Management Inc. Sells 302,024 Shares of Reading International, Inc. (NASDAQ:RDI)

Wittenberg Investment Management Inc. reduced its stake in Reading International, Inc. (NASDAQ:RDI) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,256,767 shares of the company’s stock after selling 302,024 shares during the quarter. Reading International comprises 0.7% of Wittenberg Investment Management Inc.’s holdings, making the stock its 24th largest holding. Wittenberg Investment Management Inc. owned about 0.06% of Reading International worth $1,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after purchasing an additional 19,224 shares during the period. MassMutual Private Wealth & Trust FSB bought a new position in shares of Reading International during the 4th quarter worth approximately $354,000. Finally, Krilogy Financial LLC grew its position in shares of Reading International by 11.6% during the 4th 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 during the period. 44.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Reading International in a report on Thursday. They issued a “sell” rating for the company.

Reading International Trading Down 3.1 %

NASDAQ RDI opened at $1.27 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04. The firm has a market capitalization of $28.48 million, a P/E ratio of -0.68 and a beta of 1.62. The business has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $1.48. Reading International, Inc. has a 12 month low of $1.22 and a 12 month high of $1.90.

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

Reading International 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.