Reading International Inc (NASDAQ:RDI) Short Interest Down 74.3% in August

Reading International Inc (NASDAQ:RDI) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 11,319 shares, a decrease of 74.3% from the July 30th total of 44,029 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 70,130 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Reading International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Reading International Stock Performance

NASDAQ:RDI traded up $0.16 during mid-day trading on Thursday, hitting $2.10. 274,122 shares of the company’s stock traded hands, compared to its average volume of 37,697. The company has a fifty day moving average of $1.44 and a 200 day moving average of $1.23. Reading International has a twelve month low of $0.94 and a twelve month high of $2.11. The company has a market capitalization of $48.07 million, a P/E ratio of -3.82 and a beta of 0.77.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $66.90 million during the quarter, compared to analyst estimates of $63.47 million.

Institutional Trading of Reading International

A hedge fund recently raised its stake in Reading International stock. Gabelli Funds LLC lifted its stake in shares of Reading International Inc (NASDAQ:RDI) by 26.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,000 shares of the company’s stock after buying an additional 18,000 shares during the period. Gabelli Funds LLC owned approximately 0.37% of Reading International worth $89,000 at the end of the most recent quarter. 44.70% of the stock is owned by institutional investors.

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.