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

Reading International Inc (NASDAQ:RDI) saw a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 69,433 shares, a decrease of 25.8% from the January 29th total of 93,556 shares. Based on an average daily volume of 39,716 shares, the short-interest ratio is presently 1.7 days. Currently, 0.5% of the company’s stock are short sold. Currently, 0.5% of the company’s stock are short sold. Based on an average daily volume of 39,716 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Reading International

Large investors have recently made changes to their positions in the business. Investment Counsel Co. of Nevada acquired a new position in shares of Reading International during the 2nd quarter valued at $49,000. Gabelli Funds LLC lifted its stake in shares of Reading International by 26.9% during the fourth quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock worth $89,000 after purchasing an additional 18,000 shares in the last quarter. Teton Advisors LLC purchased a new stake in shares of Reading International in the third quarter worth about $223,000. Gamco Investors INC. ET AL grew its stake in shares of Reading International by 20.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock valued at $349,000 after buying an additional 55,500 shares in the last quarter. Finally, Krilogy Financial LLC raised its holdings in shares of Reading International by 1.2% during the 4th quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock valued at $2,930,000 after buying an additional 30,410 shares during the period. Institutional investors and hedge funds own 44.70% of the company’s stock.

Reading International Stock Performance

Shares of RDI stock remained flat at $1.03 during mid-day trading on Monday. The stock had a trading volume of 10,441 shares, compared to its average volume of 31,148. The stock has a market capitalization of $23.40 million, a PE ratio of -1.69 and a beta of 0.88. Reading International has a 1-year low of $0.94 and a 1-year high of $1.65. The company has a fifty day simple moving average of $1.07 and a 200-day simple moving average of $1.27.

Wall Street Analyst Weigh In

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

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.