Reading International Inc (NASDAQ:RDI) Short Interest Down 74.3% in August

Reading International Inc (NASDAQ:RDI) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 11,319 shares, a drop of 74.3% from the July 30th total of 44,029 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 70,130 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Reading International from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Reading International currently has an average rating of “Sell”.

Reading International Price Performance

NASDAQ:RDI traded up $0.16 during trading hours on Thursday, reaching $2.10. The company had a trading volume of 274,122 shares, compared to its average volume of 37,697. Reading International has a 1-year low of $0.94 and a 1-year high of $2.11. The firm has a market cap of $48.07 million, a PE ratio of -3.82 and a beta of 0.77. The business’s 50 day moving average price is $1.44 and its 200-day moving average price is $1.23.

Reading International (NASDAQ:RDI) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $66.90 million for the quarter, compared to analyst estimates of $63.47 million.

Institutional Trading of Reading International

An institutional investor recently raised its stake in Reading International stock. Gabelli Funds LLC boosted its position in shares of Reading International Inc (NASDAQ:RDI) by 26.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,000 shares of the company’s stock after buying an additional 18,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.37% of Reading International worth $89,000 at the end of the most recent reporting period. 44.70% of the stock is owned by institutional investors and hedge funds.

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.