Reading International Inc (NASDAQ:RDI) Sees Significant Drop in Short Interest

Reading International Inc (NASDAQ:RDI) was the target of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 35,040 shares, a decline of 49.5% from the February 12th total of 69,433 shares. Based on an average trading volume of 22,912 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 22,912 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Reading International in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Reading International presently has an average rating of “Sell”.

Institutional Investors Weigh In On Reading International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Investment Counsel Co. of Nevada purchased a new position in Reading International in the 2nd quarter worth approximately $49,000. Gabelli Funds LLC raised its position in shares of Reading International by 26.9% during the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after buying an additional 18,000 shares in the last quarter. Teton Advisors LLC bought a new stake in shares of Reading International during the 3rd quarter worth $223,000. Gamco Investors INC. ET AL lifted its holdings in shares of Reading International by 20.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock worth $349,000 after acquiring an additional 55,500 shares during the last quarter. Finally, Krilogy Financial LLC grew its position in Reading International by 1.2% in the fourth quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock worth $2,930,000 after acquiring an additional 30,410 shares in the last quarter. 44.70% of the stock is owned by hedge funds and other institutional investors.

Reading International Stock Up 2.7%

Reading International stock opened at $1.13 on Thursday. Reading International has a 52 week low of $0.94 and a 52 week high of $1.65. The business has a 50-day simple moving average of $1.07 and a 200 day simple moving average of $1.26. The stock has a market cap of $25.67 million, a price-to-earnings ratio of -1.85 and a beta of 0.89.

About Reading International

Reading International, Inc (NASDAQ: RDI) is a diversified entertainment and real estate company headquartered in Santa Monica, California. The company’s principal operating arm is Reading Cinemas, a chain of multiplex movie theaters serving audiences in Australia, New Zealand and the United States. Reading Cinemas locations feature a mix of mainstream and independent film programming, premium large-format screens, special event presentations and concession services designed to enhance the customer experience.

In addition to its exhibition business, Reading International maintains a real estate development and management division focused on retail, office and mixed-use properties.