Reading International (NASDAQ:RDI) Shares Pass Below 200 Day Moving Average of $1.89

Reading International, Inc. (NASDAQ:RDI)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.89 and traded as low as $1.61. Reading International shares last traded at $1.64, with a volume of 16,155 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Reading International in a research note on Wednesday. They issued a “sell” rating for the company.

Reading International Stock Down 2.4 %

The company has a market cap of $36.67 million, a PE ratio of -1.19 and a beta of 1.59. The stock’s 50 day moving average price is $1.83 and its 200-day moving average price is $1.89. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.29 and a current ratio of 0.29.

Institutional Investors Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Wittenberg Investment Management Inc. raised its position in shares of Reading International, Inc. (NASDAQ:RDI) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,501,598 shares of the company’s stock after buying an additional 46,586 shares during the period. Reading International comprises about 1.0% of Wittenberg Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Wittenberg Investment Management Inc. owned approximately 6.77% of Reading International worth $2,868,000 at the end of the most recent reporting period. 44.70% of the stock is currently owned by institutional investors.

About Reading International

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.