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

Reading International Inc (NASDAQ:RDI) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.16 and traded as low as $1.0901. Reading International shares last traded at $1.1099, with a volume of 45,810 shares traded.

Wall Street Analysts Forecast Growth

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

Reading International Price Performance

The stock has a fifty day moving average price of $1.11 and a 200-day moving average price of $1.16. The company has a market cap of $25.22 million, a PE ratio of -1.79 and a beta of 0.80.

Reading International (NASDAQ:RDI) last released its earnings results on Tuesday, March 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $50.27 million during the quarter, compared to analysts’ expectations of $53.27 million.

Institutional Trading of Reading International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Krilogy Financial LLC raised its holdings 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 worth $2,930,000 after acquiring an additional 30,410 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings 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 worth $349,000 after acquiring an additional 55,500 shares in the last quarter. Teton Advisors LLC purchased a new stake in shares of Reading International during the third quarter worth $223,000. Finally, Gabelli Funds LLC raised its holdings 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 worth $89,000 after acquiring an additional 18,000 shares in the last quarter. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

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.