Reading International Inc (NASDAQ:RDI) Sees Significant Increase in Short Interest
by Amy Steele · The Cerbat GemReading International Inc (NASDAQ:RDI – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 60,739 shares, an increase of 133.9% from the March 15th total of 25,971 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 28,609 shares, the short-interest ratio is currently 2.1 days.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Reading International in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.
View Our Latest Analysis on RDI
Reading International Trading Down 4.4%
Shares of RDI stock traded down $0.05 during trading hours on Friday, hitting $1.08. 11,965 shares of the company were exchanged, compared to its average volume of 26,104. The firm has a fifty day simple moving average of $1.08 and a 200 day simple moving average of $1.19. Reading International has a 52-week low of $0.94 and a 52-week high of $1.65. The stock has a market capitalization of $24.54 million, a price-to-earnings ratio of -1.74 and a beta of 0.86.
Reading International (NASDAQ:RDI – Get Free Report) last issued its quarterly earnings results on Monday, April 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.09. The company had revenue of $50.27 million for the quarter, compared to analysts’ expectations of $53.27 million.
Institutional Investors Weigh In On Reading International
Several large investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL increased 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 purchasing an additional 55,500 shares during the last quarter. Gabelli Funds LLC raised its holdings in Reading International by 26.9% during the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after acquiring an additional 18,000 shares during the period. Krilogy Financial LLC lifted its position in shares of Reading International by 1.2% during the fourth quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock worth $2,930,000 after acquiring an additional 30,410 shares in the last quarter. Finally, Teton Advisors LLC bought a new position in shares of Reading International in the third quarter worth $223,000. Hedge funds and other institutional investors own 44.70% of the company’s stock.
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.