Reading International Inc (NASDAQ:RDI) Sees Large Drop in Short Interest

Reading International Inc (NASDAQ:RDI) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 21,948 shares, a drop of 39.3% from the September 15th total of 36,165 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 35,709 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Gamco Investors INC. ET AL lifted its stake in shares of Reading International Inc (NASDAQ:RDI) by 8.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 361,100 shares of the company’s stock after acquiring an additional 29,000 shares during the period. Gamco Investors INC. ET AL owned 1.59% of Reading International worth $408,000 at the end of the most recent reporting period. 44.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Reading International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Reading International Price Performance

RDI stock traded down $0.06 during trading on Friday, reaching $1.73. 13,733 shares of the company were exchanged, compared to its average volume of 41,401. Reading International has a twelve month low of $0.94 and a twelve month high of $2.41. The company has a market capitalization of $39.60 million, a price-to-earnings ratio of -3.15 and a beta of 0.87. The company has a 50-day moving average of $1.92 and a two-hundred day moving average of $1.46.

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

About Reading International

Reading International, Inc is an entertainment and real estate company that operates cinemas and owns, develops, and manages real estate assets. Its entertainment business focuses on the operation of movie theaters under the Reading Cinemas and Angelika Film Center brands, offering feature films, premium viewing experiences, food and beverage services, and related entertainment amenities.

Reading Cinemas operates in the United States, Australia, and New Zealand, while Angelika Film Centers primarily serves the U.S.