Reading International Inc (NASDAQ:RDI) Sees Significant Decline in Short Interest
by Tristan Rich · The Markets DailyReading International Inc (NASDAQ:RDI – Get Free Report) was the target of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 35,040 shares, a decrease of 49.5% from the February 12th total of 69,433 shares. Based on an average daily volume of 22,912 shares, the short-interest ratio is presently 1.5 days. Currently, 0.2% of the company’s shares are sold short. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 22,912 shares, the short-interest ratio is presently 1.5 days.
Reading International Price Performance
Shares of Reading International stock traded down $0.01 during trading on Friday, hitting $1.09. The stock had a trading volume of 5,134 shares, compared to its average volume of 22,116. Reading International has a 12 month low of $0.94 and a 12 month high of $1.65. The firm’s fifty day simple moving average is $1.08 and its 200-day simple moving average is $1.25. The stock has a market cap of $24.76 million, a PE ratio of -1.79 and a beta of 0.89.
Wall Street Analysts Forecast Growth
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, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.
View Our Latest Stock Report on RDI
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of RDI. Krilogy Financial LLC raised its holdings 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 worth $2,930,000 after buying an additional 30,410 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Reading International by 20.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock valued at $349,000 after acquiring an additional 55,500 shares during the period. Teton Advisors LLC bought a new position in Reading International in the 3rd quarter valued at $223,000. Gabelli Funds LLC grew its position in Reading International by 26.9% in 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 last quarter. Finally, Investment Counsel Co. of Nevada purchased a new stake in Reading International in the second quarter worth $49,000. 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.