Reading International (NASDAQ:RDI) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Reading International Inc (NASDAQ:RDI)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.17 and traded as high as $1.55. Reading International shares last traded at $1.50, with a volume of 137,222 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Reading International Price Performance

The company has a 50-day simple moving average of $1.30 and a 200-day simple moving average of $1.17. The stock has a market cap of $34.08 million, a PE ratio of -1.95 and a beta of 0.77.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). The firm had revenue of $45.12 million for the quarter, compared to the consensus estimate of $48.13 million.

Institutional Investors Weigh In On Reading International

Several hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL boosted its stake in Reading International by 8.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 361,100 shares of the company’s stock worth $408,000 after buying an additional 29,000 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Reading International by 26.9% during the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after acquiring an additional 18,000 shares during the last quarter. Finally, Krilogy Financial LLC increased its stake in shares of Reading International by 1.2% during the 4th quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock valued at $2,930,000 after acquiring an additional 30,410 shares during the last quarter. 44.70% of the stock is 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.