Reading International (NASDAQ:RDI) Stock Price Passes Below 200 Day Moving Average of $3.59

Shares of Reading International, Inc. (NASDAQ:RDI – Get Rating) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.59 and traded as low as $3.30. Reading International shares last traded at $3.33, with a volume of 3,889 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Reading International in a report on Tuesday. They issued a “sell” rating on the stock.

Reading International Stock Performance

The company’s 50 day moving average price is $3.10 and its 200-day moving average price is $3.58. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market cap of $73.68 million, a P/E ratio of -3.26 and a beta of 1.50.

Reading International (NASDAQ:RDI – Get Rating) last announced its quarterly earnings results on Wednesday, November 9th. The company reported ($0.23) earnings per share for the quarter. Reading International had a negative net margin of 10.99% and a negative return on equity of 24.08%. The company had revenue of $51.20 million for the quarter.

Hedge Funds Weigh In On Reading International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marquette Asset Management LLC increased its holdings in Reading International by 58.3% in the 4th quarter. Marquette Asset Management LLC now owns 40,348 shares of the company’s stock worth $112,000 after buying an additional 14,859 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Reading International by 236.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 17,005 shares of the company’s stock worth $56,000 after acquiring an additional 11,951 shares during the last quarter. Eidelman Virant Capital increased its stake in Reading International by 9.1% in the 3rd quarter. Eidelman Virant Capital now owns 1,263,010 shares of the company’s stock worth $4,180,000 after acquiring an additional 105,498 shares during the last quarter. Gabelli Funds LLC increased its position in shares of Reading International by 17.9% during the 1st quarter. Gabelli Funds LLC now owns 49,500 shares of the company’s stock valued at $212,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in shares of Reading International by 4.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 231,200 shares of the company’s stock valued at $990,000 after purchasing an additional 9,000 shares during the last quarter. Hedge funds and other institutional investors own 50.98% of the company’s stock.

Reading International Company Profile

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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.