Short Interest in Reading International Inc (NASDAQ:RDI) Declines By 59.7%

Reading International Inc (NASDAQ:RDI) was the target of a large drop in short interest in December. As of December 31st, there was short interest totaling 110,999 shares, a drop of 59.7% from the December 15th total of 275,230 shares. Approximately 0.7% of the company’s stock are sold short. Based on an average daily volume of 115,693 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 115,693 shares, the short-interest ratio is presently 1.0 days. Approximately 0.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reading International in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Reading International

Large investors have recently made changes to their positions in the business. Teton Advisors LLC bought a new stake in shares of Reading International in the 3rd quarter valued at approximately $223,000. Investment Counsel Co. of Nevada purchased a new stake in shares of Reading International in the second quarter valued at $49,000. Mraz Amerine & Associates Inc. purchased a new position in shares of Reading International during the 2nd quarter worth about $25,000. Finally, Krilogy Financial LLC grew its holdings in Reading International by 12.5% during the 2nd quarter. Krilogy Financial LLC now owns 2,815,145 shares of the company’s stock valued at $3,772,000 after purchasing an additional 312,535 shares during the last quarter. 44.70% of the stock is currently owned by institutional investors.

Reading International Price Performance

Shares of NASDAQ:RDI traded up $0.02 during mid-day trading on Wednesday, reaching $1.11. 15,837 shares of the company traded hands, compared to its average volume of 76,207. The company’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.33. The firm has a market cap of $25.22 million, a PE ratio of -1.82 and a beta of 0.89. Reading International has a 52 week low of $1.00 and a 52 week high of $1.87.

Reading International (NASDAQ:RDI) last issued its earnings results on Friday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The company had revenue of $52.17 million for the quarter, compared to the consensus estimate of $58.75 million.

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.