Reading International (NASDAQ:RDIB) Stock Price Down 3.2% – Here’s Why

Shares of Reading International, Inc. (NASDAQ:RDIB) traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $9.38 and last traded at $9.43. 4,385 shares changed hands during trading, a decline of 85% from the average session volume of 28,788 shares. The stock had previously closed at $9.74.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Reading International in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Reading International Stock Down 3.2%

The firm has a 50 day moving average of $11.30 and a two-hundred day moving average of $11.46.

Hedge Funds Weigh In On Reading International

An institutional investor recently bought a new position in Reading International stock. Teton Advisors LLC acquired a new stake in Reading International, Inc. (NASDAQ:RDIB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 75,030 shares of the company’s stock, valued at approximately $838,000. Institutional investors own 0.43% of the company’s stock.

Reading International Company Profile

Reading International, Inc is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the Cinema Exhibition and Real Estate segments. The Cinema Exhibition segment includes Reading Cinemas, Angelika Film Center, Consolidated Theatres, City Cinemas, 44 Union Square, and Liberty Theatres brands. The Real Estate segment comprises real estate development and the rental or licensing of retail, commercial and live theater assets.