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

Reading International Inc (NASDAQ:RDI) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.15 and traded as high as $1.4745. Reading International shares last traded at $1.46, with a volume of 45,460 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Reading International in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Reading International Stock Performance

The company has a market capitalization of $32.94 million, a PE ratio of -1.88 and a beta of 0.76. The company’s fifty day moving average is $1.26 and its 200-day moving average is $1.15.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.10). The business had revenue of $45.12 million for the quarter, compared to analyst estimates of $48.13 million.

Hedge Funds Weigh In On Reading International

Several large investors have recently made changes to their positions in the business. Krilogy Financial LLC grew its position 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 purchasing an additional 30,410 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Reading International by 8.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 361,100 shares of the company’s stock worth $408,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Gabelli Funds LLC boosted its stake in Reading International by 26.9% in the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock worth $89,000 after purchasing an additional 18,000 shares during the period. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

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.