Shares of Reading International, Inc. (NASDAQ:RDI – Get Free Report) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.58 and traded as low as $1.42. Reading International shares last traded at $1.45, with a volume of 15,421 shares changing hands.
Wall Street Analysts Forecast Growth
RDI has been the topic of a number of research reports. StockNews.com started coverage on Reading International in a report on Friday. They issued a “sell” rating on the stock. Macquarie increased their price objective on shares of Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a research note on Tuesday, July 9th.
Get Our Latest Stock Report on RDI
Reading International Price Performance
Reading International (NASDAQ:RDI – Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. Reading International had a negative return on equity of 153.86% and a negative net margin of 19.32%. The company had revenue of $46.81 million for the quarter.
Hedge Funds Weigh In On Reading International
A number of institutional investors have recently modified their holdings of RDI. Logan Stone Capital LLC purchased a new stake in shares of Reading International in the second quarter valued at $38,000. Wittenberg Investment Management Inc. boosted its stake in Reading International by 0.7% in the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after buying an additional 11,140 shares during the last quarter. Finally, Krilogy Financial LLC grew its holdings in Reading International by 6.7% in the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after buying an additional 124,326 shares during the period. Institutional investors and hedge funds own 44.70% of the company’s stock.
About Reading International
Reading International, Inc, together with its subsidiaries, focuses on the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.
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