Reading International (NASDAQ:RDI) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Reading International Inc (NASDAQ:RDI) passed 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Reading International Stock Up 5.6%

The firm has a market capitalization of $34.08 million, a price-to-earnings ratio of -1.95 and a beta of 0.77. The business’s 50-day simple moving average is $1.30 and its two-hundred day simple moving average is $1.17.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Gabelli Funds LLC boosted its position in shares of Reading International by 26.9% in the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after purchasing an additional 18,000 shares during the period. Gamco Investors INC. ET AL increased its position in Reading International by 20.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock worth $349,000 after buying an additional 55,500 shares during the period. Finally, Krilogy Financial LLC increased its position in 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 buying an additional 30,410 shares during the period. 44.70% of the stock is owned by institutional investors and hedge funds.

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.