Reading International (NASDAQ:RDI) Stock Crosses Below 200-Day Moving Average – Here’s Why

Reading International, Inc. (NASDAQ:RDI) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.58 and traded as low as $1.42. Reading International shares last traded at $1.45, with a volume of 15,421 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RDI shares. Macquarie raised their price target on Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. StockNews.com initiated coverage on Reading International in a research report on Friday. They set a “sell” rating for the company.

Reading International Stock Performance

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 market capitalization of $32.52 million, a PE ratio of -0.99 and a beta of 1.61. The firm’s 50-day simple moving average is $1.66 and its 200-day simple moving average is $1.58.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share 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 for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in RDI. Wittenberg Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 11,140 shares during the last quarter. Logan Stone Capital LLC purchased a new position in Reading International in the second quarter valued at about $38,000. Finally, Krilogy Financial LLC raised its holdings in Reading International by 6.7% in the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after purchasing an additional 124,326 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

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.