Reading International (NASDAQ:RDI) Stock Passes Below 200 Day Moving Average – Here’s Why

Reading International Inc (NASDAQ:RDI)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.12 and traded as low as $1.0350. Reading International shares last traded at $1.14, with a volume of 77,412 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reading International in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Reading International Stock Performance

The firm has a fifty day simple moving average of $1.11 and a 200 day simple moving average of $1.12. The company has a market cap of $25.67 million, a PE ratio of -1.47 and a beta of 0.80.

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

Hedge Funds Weigh In On Reading International

A number of hedge funds have recently made changes to their positions in RDI. Gabelli Funds LLC increased its holdings 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 worth $89,000 after buying an additional 18,000 shares during the last quarter. Teton Advisors LLC acquired a new stake in shares of Reading International during the 3rd quarter worth $223,000. Gamco Investors INC. ET AL increased its holdings in shares of Reading International by 20.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock worth $349,000 after buying an additional 55,500 shares during the last quarter. Finally, Krilogy Financial LLC increased its holdings 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 worth $2,930,000 after buying an additional 30,410 shares during the last quarter. Institutional investors and hedge funds own 44.70% of the company’s stock.

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.