Reading International (NASDAQ:RDI) Stock Passes Below 200-Day Moving Average – What’s Next?

Reading International Inc (NASDAQ:RDI)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.18 and traded as low as $1.18. Reading International shares last traded at $1.21, with a volume of 17,197 shares traded.

Analysts Set New Price Targets

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

Reading International Trading Up 0.8%

The company’s 50 day moving average is $1.10 and its 200 day moving average is $1.18. The stock has a market capitalization of $27.49 million, a price-to-earnings ratio of -1.95 and a beta of 0.86.

Reading International (NASDAQ:RDI) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. The company had revenue of $50.27 million for the quarter, compared to analyst estimates of $53.27 million.

Institutional Investors Weigh In On Reading International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gabelli Funds LLC raised its stake in 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 acquiring an additional 18,000 shares in the last quarter. Teton Advisors LLC acquired a new stake in Reading International during the 3rd quarter worth $223,000. Gamco Investors INC. ET AL raised its stake in 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 acquiring an additional 55,500 shares in the last quarter. Finally, Krilogy Financial LLC raised its stake in 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 acquiring an additional 30,410 shares in the last quarter. 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.