Nantahala Capital Management LLC Decreases Stake in Reading International Inc $RDI

Nantahala Capital Management LLC cut its position in shares of Reading International Inc (NASDAQ:RDI) by 32.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,921,088 shares of the company’s stock after selling 942,958 shares during the quarter. Nantahala Capital Management LLC owned 8.62% of Reading International worth $2,670,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gamco Investors INC. ET AL raised its holdings in Reading International by 3.3% during the first quarter. Gamco Investors INC. ET AL now owns 281,100 shares of the company’s stock worth $391,000 after purchasing an additional 9,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in Reading International by 10.1% during the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after purchasing an additional 19,224 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Reading International by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock worth $301,000 after purchasing an additional 36,561 shares during the last quarter. Finally, Krilogy Financial LLC raised its holdings in Reading International by 6.1% during the first quarter. Krilogy Financial LLC now owns 2,502,610 shares of the company’s stock worth $3,479,000 after purchasing an additional 143,000 shares during the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on Reading International in a report on Wednesday, May 21st. They set a “sell” rating for the company.

Insider Buying and Selling

In related news, CAO Steven John Lucas sold 40,000 shares of the company’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $1.34, for a total value of $53,600.00. Following the completion of the transaction, the chief accounting officer directly owned 18,961 shares in the company, valued at approximately $25,407.74. This represents a 67.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 25.66% of the company’s stock.

Reading International Stock Down 2.8%

NASDAQ RDI opened at $1.55 on Monday. Reading International Inc has a fifty-two week low of $1.17 and a fifty-two week high of $1.89. The stock has a market cap of $35.10 million, a price-to-earnings ratio of -2.09 and a beta of 1.44. The business has a fifty day moving average of $1.36 and a 200-day moving average of $1.35.

Reading International (NASDAQ:RDI) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Reading International had a negative return on equity of 632.66% and a negative net margin of 7.54%.The company had revenue of $60.38 million during the quarter, compared to analyst estimates of $59.39 million.

Reading International Profile

Reading International, Inc, together with its subsidiaries, focuses on the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.