Reading International (NASDAQ:RDI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

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 $1.34 and traded as low as $1.03. Reading International shares last traded at $1.10, with a volume of 32,888 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reading International in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Reading International Stock Up 0.9%

The stock has a market capitalization of $24.99 million, a PE ratio of -1.80 and a beta of 0.89. The firm’s fifty day moving average is $1.20 and its 200-day moving average is $1.34.

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

Institutional Trading of Reading International

A number of hedge funds have recently bought and sold shares of the company. Mraz Amerine & Associates Inc. purchased a new stake in Reading International in the 2nd quarter worth approximately $25,000. Investment Counsel Co. of Nevada purchased a new position in shares of Reading International during the 2nd quarter worth about $49,000. Teton Advisors LLC purchased a new position in shares of Reading International during the 3rd quarter worth about $223,000. Finally, Krilogy Financial LLC boosted its position in shares of Reading International by 12.5% in the second quarter. Krilogy Financial LLC now owns 2,815,145 shares of the company’s stock worth $3,772,000 after acquiring an additional 312,535 shares during the last quarter. 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.