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

by · The Markets Daily

Reading International Inc (NASDAQ:RDI – Get Free Report) was the recipient of a large increase in short interest in 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. Approximately 0.3% of the company’s shares are sold short. Based on an average daily volume of 30,170 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Reading International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

Check Out Our Latest Analysis on RDI

Institutional Trading of Reading International

An institutional investor recently raised its stake in Reading International stock. Gamco Investors INC. ET AL increased its stake in Reading International Inc (NASDAQ:RDI – Free Report) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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. 44.70% of the stock is currently owned by institutional investors.

Reading International Price Performance

Shares of RDI stock remained flat at $1.63 during trading hours on Friday. 27,678 shares of the company were exchanged, compared to its average volume of 22,477. The company has a market cap of $37.31 million, a price-to-earnings ratio of -2.96 and a beta of 0.87. Reading International has a 52-week low of $0.94 and a 52-week high of $2.41. The stock’s 50-day moving average is $1.93 and its 200-day moving average is $1.38.

Reading International (NASDAQ:RDI – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The firm had revenue of $66.90 million during the quarter, compared to the consensus estimate of $63.47 million.

About Reading International

(Get Free Report)

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.

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