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

Reading International, Inc. (NASDAQ:RDIB) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 5,034 shares, a drop of 24.1% from the March 31st total of 6,631 shares. Based on an average daily volume of 1,548 shares, the short-interest ratio is presently 3.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Reading International Stock Performance

Shares of Reading International stock traded down $0.43 during trading on Wednesday, hitting $9.51. 905 shares of the stock traded hands, compared to its average volume of 24,876. The stock’s fifty day simple moving average is $10.51 and its 200 day simple moving average is $11.29. Reading International has a 52-week low of $8.00 and a 52-week high of $17.40.

Hedge Funds Weigh In On Reading International

An institutional investor recently bought a new position in Reading International stock. Teton Advisors LLC bought a new stake in Reading International, Inc. (NASDAQ:RDIB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 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.