Reading International (NASDAQ:RDIB) Stock Price Down 3.2% – Here’s Why

Reading International, Inc. (NASDAQ:RDIB) fell 3.2% on Wednesday . The stock traded as low as $9.38 and last traded at $9.43. 4,385 shares were traded during mid-day trading, a decline of 85% from the average session volume of 28,788 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reading International in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Reading International Trading Down 3.2%

The firm has a 50-day simple moving average of $11.30 and a two-hundred day simple moving average of $11.46.

Hedge Funds Weigh In On Reading International

A hedge fund recently bought a new stake in Reading International stock. Teton Advisors LLC purchased a new position in shares of Reading International, Inc. (NASDAQ:RDIB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 75,030 shares of the company’s stock, valued at approximately $838,000. Hedge funds and other institutional investors own 0.43% of the company’s stock.

About Reading International

Reading International, Inc is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the Cinema Exhibition and Real Estate segments. The Cinema Exhibition segment includes Reading Cinemas, Angelika Film Center, Consolidated Theatres, City Cinemas, 44 Union Square, and Liberty Theatres brands. The Real Estate segment comprises real estate development and the rental or licensing of retail, commercial and live theater assets.