Reading International (NASDAQ:RDI) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Reading International Inc (NASDAQ:RDI)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.12 and traded as low as $1.0350. Reading International shares last traded at $1.14, with a volume of 77,412 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Reading International has an average rating of “Sell”.

Reading International Stock Up 8.6%

The firm has a market cap of $25.90 million, a price-to-earnings ratio of -1.48 and a beta of 0.80. The stock’s 50 day moving average is $1.11 and its 200 day moving average is $1.12.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). The company had revenue of $45.12 million for the quarter, compared to analyst estimates of $48.13 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Gabelli Funds LLC increased its stake in shares of Reading International by 26.9% during the fourth quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after acquiring an additional 18,000 shares during the period. Teton Advisors LLC acquired a new position in shares of Reading International during the third quarter valued at approximately $223,000. Gamco Investors INC. ET AL increased its stake in shares of Reading International by 20.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock valued at $349,000 after acquiring an additional 55,500 shares during the period. Finally, Krilogy Financial LLC increased its stake in shares of Reading International by 1.2% during the fourth quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock valued at $2,930,000 after acquiring 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.