Reading International (NASDAQ:RDI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Reading International Inc (NASDAQ:RDI)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.17 and traded as high as $1.55. Reading International shares last traded at $1.50, with a volume of 137,222 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Reading International in a report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Reading International Stock Down 2.6%

The business’s fifty day moving average is $1.32 and its two-hundred day moving average is $1.17. The firm has a market cap of $34.31 million, a price-to-earnings ratio of -1.96 and a beta of 0.77.

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

Institutional Trading of Reading International

Several institutional investors and hedge funds have recently added to or reduced their stakes in RDI. Gabelli Funds LLC grew its position in shares of Reading International by 26.9% during the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock worth $89,000 after buying an additional 18,000 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Reading International by 8.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 361,100 shares of the company’s stock valued at $408,000 after acquiring an additional 29,000 shares during the period. Finally, Krilogy Financial LLC boosted its stake in Reading International by 1.2% during the 4th 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 during the last quarter. 44.70% of the stock is owned by 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.