Reading International Inc (NASDAQ:RDI) Short Interest Update

by · The Markets Daily

Reading International Inc (NASDAQ:RDI – Get Free Report) was the target of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 11,319 shares, a decline 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 presently 0.2 days.

Hedge Funds Weigh In On Reading International

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 – Free Report) by 20.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 332,100 shares of the company’s stock after purchasing an additional 55,500 shares during the quarter. Gamco Investors INC. ET AL owned about 1.46% of Reading International worth $349,000 at the end of the most recent quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

Reading International Trading Down 4.3%

Shares of Reading International stock traded down $0.09 on Friday, hitting $2.01. The stock had a trading volume of 88,385 shares, compared to its average volume of 98,406. The stock has a market cap of $46.01 million, a price-to-earnings ratio of -3.65 and a beta of 0.77. Reading International has a 52-week low of $0.94 and a 52-week high of $2.13. The company’s 50 day moving average price is $1.47 and its 200 day moving average price is $1.24.

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

Wall Street Analyst Weigh In

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 investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Read Our Latest Report on RDI

About Reading International

(Get Free Report)

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.

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