Reading International (NASDAQ:RDI) Shares Pass Below Two Hundred Day Moving Average of $1.85

Reading International, Inc. (NASDAQ:RDI) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.85 and traded as low as $1.65. Reading International shares last traded at $1.73, with a volume of 3,745 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Reading International in a research report on Friday. They issued a “sell” rating for the company.

Reading International Trading Up 1.2 %

The stock has a fifty day moving average price of $1.76 and a 200 day moving average price of $1.85. The stock has a market cap of $38.68 million, a PE ratio of -1.25 and a beta of 1.59. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.29 and a current ratio of 0.29.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Friday, March 29th. The company reported ($0.56) earnings per share for the quarter. Reading International had a negative net margin of 13.77% and a negative return on equity of 70.68%. The firm had revenue of $45.32 million for the quarter.

Institutional Investors Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. grew its holdings in Reading International, Inc. (NASDAQ:RDI) by 0.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,512,738 shares of the company’s stock after purchasing an additional 11,140 shares during the period. Reading International comprises approximately 0.9% of Wittenberg Investment Management Inc.’s holdings, making the stock its 20th largest holding. Wittenberg Investment Management Inc. owned approximately 6.77% of Reading International worth $2,783,000 as of its most recent SEC filing. Institutional investors and hedge funds own 44.70% of the company’s stock.

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.