Reading International (NASDAQ:RDI) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Reading International, Inc. (NASDAQ:RDI)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.51 and traded as low as $1.27. Reading International shares last traded at $1.29, with a volume of 20,771 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Reading International in a research report on Tuesday. They set a “sell” rating for the company.

Reading International Price Performance

The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $32.52 million, a PE ratio of -0.77 and a beta of 1.62. The firm has a 50-day simple moving average of $1.47 and a 200 day simple moving average of $1.51.

Hedge Funds Weigh In On Reading International

Several large investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its position in shares of Reading International by 3.6% in the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock worth $359,000 after purchasing an additional 9,500 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after purchasing an additional 19,224 shares during the last quarter. Wittenberg Investment Management Inc. raised its position in shares of Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after purchasing an additional 21,483 shares during the last quarter. Wells Fargo & Company MN increased its holdings in 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 buying an additional 36,561 shares in the last quarter. Finally, Krilogy Financial LLC increased its holdings in Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after buying an additional 246,000 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.