Reading International (NASDAQ:RDI) Shares Pass Above 200 Day Moving Average – Here’s Why

Reading International, Inc. (NASDAQ:RDI)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.53 and traded as high as $1.61. Reading International shares last traded at $1.61, with a volume of 32,874 shares changing hands.

Analyst Upgrades and Downgrades

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

Reading International Trading Up 1.9 %

The company has a market cap of $36.11 million, a PE ratio of -0.86 and a beta of 1.62. 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 company has a 50-day moving average of $1.47 and a 200 day moving average of $1.53.

Institutional Trading of Reading International

Several institutional investors have recently added to or reduced their stakes in RDI. Wittenberg Investment Management Inc. lifted its stake in Reading International by 1.4% in the third 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. Krilogy Financial LLC lifted its stake in Reading International by 11.6% in the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after purchasing an additional 246,000 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB bought a new stake in Reading International in the fourth quarter worth about $354,000. 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.