Reading International (NASDAQ:RDI) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of Reading International Inc (NASDAQ:RDI) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.20 and traded as low as $1.08. Reading International shares last traded at $1.08, with a volume of 11,965 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Reading International Stock Performance

The company’s 50 day moving average price is $1.08 and its 200 day moving average price is $1.20. The company has a market cap of $24.54 million, a price-to-earnings ratio of -1.74 and a beta of 0.86.

Reading International (NASDAQ:RDI) last announced its quarterly earnings results on Monday, April 6th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. The business had revenue of $50.27 million for the quarter, compared to analyst estimates of $53.27 million.

Institutional Trading of Reading International

Large investors have recently modified their holdings of the company. Gabelli Funds LLC boosted its holdings in Reading International by 26.9% in the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after purchasing an additional 18,000 shares during the period. Teton Advisors LLC bought a new stake in Reading International in the 3rd quarter valued at $223,000. Gamco Investors INC. ET AL boosted its holdings in Reading International by 20.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock valued at $349,000 after purchasing an additional 55,500 shares during the period. Finally, Krilogy Financial LLC boosted its holdings in Reading International by 1.2% in the 4th quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock valued at $2,930,000 after purchasing an additional 30,410 shares during the period. 44.70% of the stock is owned by institutional investors.

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.