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

Reading International Inc (NASDAQ:RDI) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 69,433 shares, a drop of 25.8% from the January 29th total of 93,556 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 39,716 shares, the days-to-cover ratio is currently 1.7 days. Based on an average trading volume of 39,716 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.5% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reading International in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Trading of Reading International

A number of large investors have recently added to or reduced their stakes in RDI. Investment Counsel Co. of Nevada acquired a new position in shares of Reading International during the 2nd quarter worth about $49,000. Gabelli Funds LLC grew its holdings in Reading International by 26.9% during 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. Teton Advisors LLC acquired a new position in Reading International during the third quarter worth approximately $223,000. Gamco Investors INC. ET AL raised its stake in Reading International by 20.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock valued at $349,000 after buying an additional 55,500 shares during the period. Finally, Krilogy Financial LLC lifted 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 valued at $2,930,000 after buying an additional 30,410 shares during the last quarter. Institutional investors and hedge funds own 44.70% of the company’s stock.

Reading International Stock Performance

NASDAQ RDI traded up $0.01 during trading hours on Tuesday, hitting $1.04. 19,733 shares of the company traded hands, compared to its average volume of 27,630. The stock has a market capitalization of $23.63 million, a price-to-earnings ratio of -1.70 and a beta of 0.89. Reading International has a twelve month low of $0.94 and a twelve month high of $1.65. The business’s 50-day moving average is $1.07 and its 200-day moving average is $1.27.

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.