Reading International (NASDAQ:RDI) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Reading International Inc (NASDAQ:RDI)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.39 and traded as low as $1.1401. Reading International shares last traded at $1.18, with a volume of 64,854 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Reading International in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Reading International has an average rating of “Sell”.

Reading International Trading Down 3.4%

The company has a market cap of $26.81 million, a price-to-earnings ratio of -1.93 and a beta of 0.97. The firm has a 50-day moving average price of $1.36 and a 200 day moving average price of $1.39.

Reading International (NASDAQ:RDI) last issued its earnings results on Friday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). The business had revenue of $52.17 million for the quarter, compared to the consensus estimate of $58.75 million.

Hedge Funds Weigh In On Reading International

A number of hedge funds and other institutional investors have recently bought and sold shares of RDI. Gamco Investors INC. ET AL grew its holdings in shares of Reading International by 3.3% during the first quarter. Gamco Investors INC. ET AL now owns 281,100 shares of the company’s stock valued at $391,000 after purchasing an additional 9,000 shares during the last quarter. Mraz Amerine & Associates Inc. acquired a new position in Reading International during the 2nd quarter valued at approximately $25,000. Investment Counsel Co. of Nevada acquired a new position in Reading International during the 2nd quarter valued at approximately $49,000. Teton Advisors LLC bought a new position in Reading International during the 3rd quarter worth $223,000. Finally, Krilogy Financial LLC grew its stake in Reading International by 12.5% during the 2nd quarter. Krilogy Financial LLC now owns 2,815,145 shares of the company’s stock worth $3,772,000 after buying an additional 312,535 shares during the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.