Yacktman Asset Management LP Reduces Holdings in Reading International, Inc. (NASDAQ:RDI)

Yacktman Asset Management LP cut its stake in Reading International, Inc. (NASDAQ:RDI) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 500,000 shares of the company’s stock after selling 10,000 shares during the period. Yacktman Asset Management LP’s holdings in Reading International were worth $955,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Wittenberg Investment Management Inc. grew its holdings in Reading International by 1.9% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,455,012 shares of the company’s stock valued at $3,085,000 after buying an additional 26,824 shares in the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Reading International Trading Up 0.6 %

RDI traded up $0.01 during mid-day trading on Friday, hitting $1.65. 11,768 shares of the stock were exchanged, compared to its average volume of 15,178. The firm’s fifty day moving average is $1.81 and its two-hundred day moving average is $1.88. Reading International, Inc. has a 1-year low of $1.53 and a 1-year high of $3.35. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 5.27. The company has a market cap of $36.89 million, a PE ratio of -1.19 and a beta of 1.59.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Friday, March 29th. The company reported ($0.56) earnings per share (EPS) for the quarter. The company 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%.

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.