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

Reading International Inc (NASDAQ:RDI) was the recipient of a significant decline in short interest in March. As of March 13th, there was short interest totaling 25,971 shares, a decline of 25.9% from the February 26th total of 35,040 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 20,900 shares, the days-to-cover ratio is currently 1.2 days.

Analyst Ratings Changes

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

Reading International Stock Down 1.8%

Shares of NASDAQ:RDI opened at $1.09 on Tuesday. The firm has a 50 day moving average of $1.08 and a 200 day moving average of $1.22. The company has a market capitalization of $24.76 million, a price-to-earnings ratio of -1.79 and a beta of 0.88. Reading International has a 52 week low of $0.94 and a 52 week high of $1.65.

Hedge Funds Weigh In On Reading International

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Investment Counsel Co. of Nevada bought a new position in Reading International in the second quarter worth about $49,000. Teton Advisors LLC bought a new stake in shares of Reading International in the 3rd quarter valued at about $223,000. Krilogy Financial LLC grew its position in shares of Reading International by 1.2% in the 4th quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock worth $2,930,000 after buying an additional 30,410 shares during the last quarter. Gabelli Funds LLC grew its position in shares of Reading International by 26.9% in the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock worth $89,000 after buying an additional 18,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Reading International by 20.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock worth $349,000 after acquiring an additional 55,500 shares in the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

Reading International Company Profile

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.