Reading International Inc (NASDAQ:RDI) Shares Shorted: Short Interest Up 114.3% in October

Reading International Inc (NASDAQ:RDI) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 47,042 shares, an increase of 114.3% from the September 30th total of 21,948 shares. Based on an average daily volume of 30,170 shares, the short-interest ratio is currently 1.6 days. Approximately 0.3% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Reading International from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, Reading International currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Reading International stock. Gamco Investors INC. ET AL boosted its holdings in Reading International Inc (NASDAQ:RDI) by 8.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 361,100 shares of the company’s stock after buying an additional 29,000 shares during the period. Gamco Investors INC. ET AL owned 1.59% of Reading International worth $408,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 44.70% of the company’s stock.

Reading International Stock Up 2.1%

Shares of NASDAQ RDI traded up $0.04 on Friday, reaching $1.67. 12,996 shares of the company’s stock traded hands, compared to its average volume of 40,113. The business’s 50 day simple moving average is $1.94 and its two-hundred day simple moving average is $1.38. Reading International has a 12 month low of $0.94 and a 12 month high of $2.41. The company has a market cap of $38.11 million, a price-to-earnings ratio of -3.03 and a beta of 0.87.

Reading International (NASDAQ:RDI) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $66.90 million for the quarter, compared to analysts’ expectations of $63.47 million.

About Reading International

Reading International, Inc (NASDAQ:RDI) is an entertainment and real estate company that operates cinema and property businesses. Its cinema exhibition operations serve audiences through the Reading Cinemas, Angelika Film Center and Consolidated Theatres brands.

The company operates cinemas in the United States, Australia and New Zealand. Its theaters typically offer feature films along with premium viewing experiences, food and beverage options, and other amenities designed to support out-of-home entertainment.

Reading International also owns and manages real estate, including entertainment and retail-oriented properties in the United States, Australia and New Zealand.