Reading International (NASDAQ:RDI) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Reading International Inc (NASDAQ:RDI) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.37 and traded as low as $1.02. Reading International shares last traded at $1.02, with a volume of 135,420 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Reading International Stock Performance

The firm has a market capitalization of $23.17 million, a P/E ratio of -1.67 and a beta of 0.97. The stock has a 50 day moving average of $1.29 and a two-hundred day moving average of $1.37.

Reading International (NASDAQ:RDI) last released its earnings results on Friday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The company had revenue of $52.17 million for the quarter, compared to analyst estimates of $58.75 million.

Institutional Trading of Reading International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. acquired a new position in shares of Reading International in the second quarter valued at approximately $25,000. Investment Counsel Co. of Nevada acquired a new position in Reading International in the 2nd quarter worth $49,000. Teton Advisors LLC bought a new position in Reading International during the 3rd quarter worth about $223,000. Gamco Investors INC. ET AL raised its stake in shares of Reading International by 3.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 281,100 shares of the company’s stock valued at $391,000 after purchasing an additional 9,000 shares during the period. Finally, Krilogy Financial LLC raised its stake in shares of Reading International by 12.5% in the 2nd quarter. Krilogy Financial LLC now owns 2,815,145 shares of the company’s stock valued at $3,772,000 after purchasing an additional 312,535 shares during the period. 44.70% of the stock is currently owned by institutional investors and hedge funds.

About Reading International

Reading International, Inc (NASDAQ: RDI) is a diversified entertainment and real estate company headquartered in Santa Monica, California. The company’s principal operating arm is Reading Cinemas, a chain of multiplex movie theaters serving audiences in Australia, New Zealand and the United States. Reading Cinemas locations feature a mix of mainstream and independent film programming, premium large-format screens, special event presentations and concession services designed to enhance the customer experience.

In addition to its exhibition business, Reading International maintains a real estate development and management division focused on retail, office and mixed-use properties.