Reading International (NASDAQ:RDI) Stock Crosses Below 200 Day Moving Average – What’s Next?

Reading International, Inc. (NASDAQ:RDI) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.49 and traded as low as $1.27. Reading International shares last traded at $1.38, with a volume of 31,359 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Reading International in a research report on Wednesday. They issued a “sell” rating for the company.

Reading International Stock Performance

The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 35.04. The firm has a 50-day simple moving average of $1.47 and a 200 day simple moving average of $1.49. The company has a market cap of $30.05 million, a price-to-earnings ratio of -0.71 and a beta of 1.62.

Institutional Investors Weigh In On Reading International

A number of large investors have recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL grew its position in Reading International by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after acquiring an additional 9,500 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Reading International by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after acquiring an additional 36,561 shares during the period. Geode Capital Management LLC lifted its position in Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after purchasing an additional 19,224 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of Reading International in the 4th quarter worth approximately $354,000. Finally, Krilogy Financial LLC increased its position in shares of Reading International by 11.6% during the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after purchasing an additional 246,000 shares during the period. 44.70% of the stock is owned by institutional investors and hedge funds.

Reading International Company Profile

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.