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

Reading International Inc (NASDAQ:RDI) saw a significant drop in short interest in April. As of April 30th, there was short interest totaling 27,937 shares, a drop of 34.1% from the April 15th total of 42,386 shares. Based on an average daily trading volume, of 16,677 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.2% of the shares of the company are sold short.

Reading International Stock Performance

RDI opened at $1.06 on Monday. Reading International has a fifty-two week low of $0.94 and a fifty-two week high of $1.65. The company has a market capitalization of $24.08 million, a P/E ratio of -1.38 and a beta of 0.80. The stock has a fifty day moving average of $1.11 and a 200-day moving average of $1.14.

Reading International (NASDAQ:RDI) last posted its earnings results on Friday, May 15th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.10). The firm had revenue of $45.12 million during the quarter, compared to the consensus estimate of $48.13 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Reading International in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Institutional Investors Weigh In On Reading International

Hedge funds and other institutional investors have recently modified their holdings of the company. Teton Advisors LLC bought a new position in shares of Reading International in the third quarter worth $223,000. Gamco Investors INC. ET AL increased its position in shares of Reading International by 20.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock worth $349,000 after purchasing an additional 55,500 shares during the period. Krilogy Financial LLC increased its position in shares of Reading International by 1.2% in the fourth quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock worth $2,930,000 after purchasing an additional 30,410 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Reading International by 26.9% in the fourth quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock worth $89,000 after purchasing an additional 18,000 shares during the period. Institutional investors and hedge funds own 44.70% of the company’s stock.

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.