Reading International (NASDAQ:RDI) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Reading International Inc (NASDAQ:RDI) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.31 and traded as low as $1.03. Reading International shares last traded at $1.06, with a volume of 65,318 shares.

Wall Street Analyst Weigh In

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

Reading International Stock Down 0.9%

The stock has a fifty day moving average price of $1.12 and a two-hundred day moving average price of $1.31. The company has a market capitalization of $24.08 million, a price-to-earnings ratio of -1.74 and a beta of 0.93.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). The company had revenue of $52.17 million during the quarter, compared to analyst estimates of $58.75 million.

Institutional Trading of Reading International

Hedge funds have recently bought and sold shares of the company. Mraz Amerine & Associates Inc. acquired a new position in Reading International in the 2nd quarter valued at $25,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Reading International in the second quarter valued at $49,000. Teton Advisors LLC acquired a new position in Reading International in the third quarter valued at $223,000. Finally, Krilogy Financial LLC lifted its position in Reading International by 1.2% during the fourth 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 period. Institutional investors and hedge funds own 44.70% of the company’s stock.

Reading International Company Profile

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.