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

Shares of Reading International Inc (NASDAQ:RDI) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analyst Upgrades and Downgrades

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

Reading International Stock Down 1.8%

The company has a market capitalization of $24.54 million, a price-to-earnings ratio of -1.77 and a beta of 0.89. The stock has a 50 day simple moving average of $1.19 and a 200 day simple moving average of $1.34.

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

Institutional Investors Weigh In On Reading International

Large investors have recently made changes to their positions in the company. Krilogy Financial LLC raised its stake in shares of Reading International by 12.5% in 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 in the last quarter. Teton Advisors LLC bought a new stake in Reading International in the third quarter worth about $223,000. Investment Counsel Co. of Nevada bought a new stake in Reading International in the second quarter worth about $49,000. Finally, Mraz Amerine & Associates Inc. acquired a new stake in Reading International in the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 44.70% of the company’s stock.

About Reading International

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.