Reading International, Inc. (NASDAQ:RDIB) Sees Significant Decline in Short Interest

Reading International, Inc. (NASDAQ:RDIB) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 6,631 shares, a decrease of 21.1% from the March 15th total of 8,409 shares. Based on an average daily volume of 4,239 shares, the days-to-cover ratio is currently 1.6 days.

Reading International Trading Down 2.5%

Shares of RDIB stock traded down $0.25 on Thursday, hitting $9.70. The company’s stock had a trading volume of 6,693 shares, compared to its average volume of 26,720. The stock’s 50 day moving average is $10.92 and its 200-day moving average is $11.38. Reading International has a fifty-two week low of $8.00 and a fifty-two week high of $17.40.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Reading International in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Reading International presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Reading International

An institutional investor recently bought a new position in Reading International stock. Teton Advisors LLC purchased a new stake in Reading International, Inc. (NASDAQ:RDIB) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,030 shares of the company’s stock, valued at approximately $838,000. Institutional investors own 0.43% of the company’s stock.

Reading International Company Profile

Reading International, Inc is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the Cinema Exhibition and Real Estate segments. The Cinema Exhibition segment includes Reading Cinemas, Angelika Film Center, Consolidated Theatres, City Cinemas, 44 Union Square, and Liberty Theatres brands. The Real Estate segment comprises real estate development and the rental or licensing of retail, commercial and live theater assets.