Reading International (NASDAQ:RDI) Shares Cross Below 200-Day Moving Average – Here’s What Happened

by · The Cerbat Gem

Reading International, Inc. (NASDAQ:RDI – Get Free Report)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.60 and traded as low as $1.56. Reading International shares last traded at $1.58, with a volume of 1,881 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com assumed coverage on Reading International in a research report on Wednesday. They issued a “sell” rating for the company. Macquarie boosted their price objective on Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a research report on Tuesday, July 9th.

Read Our Latest Analysis on Reading International

Reading International Trading Up 5.2 %

The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 15.80. The company has a fifty day simple moving average of $1.63 and a 200-day simple moving average of $1.60. The company has a market capitalization of $36.33 million, a PE ratio of -1.05 and a beta of 1.61.

Reading International (NASDAQ:RDI – Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The company had revenue of $46.81 million during the quarter.

Hedge Funds Weigh In On Reading International

Several large investors have recently modified their holdings of the business. Logan Stone Capital LLC acquired a new position in Reading International during the 2nd quarter worth about $38,000. Krilogy Financial LLC lifted its stake in Reading International by 6.7% during the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after acquiring an additional 124,326 shares in the last quarter. Finally, Wittenberg Investment Management Inc. lifted its stake in Reading International by 0.7% during the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after acquiring an additional 11,140 shares in the last quarter. Institutional investors and hedge funds own 44.70% of the company’s stock.

About Reading International

(Get Free Report)

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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