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

Reading International Inc (NASDAQ:RDI) saw a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 27,937 shares, a decrease of 34.1% from the April 15th total of 42,386 shares. Based on an average daily volume of 16,677 shares, the short-interest ratio is presently 1.7 days. Currently, 0.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Reading International

Several hedge funds have recently made changes to their positions in RDI. Teton Advisors LLC bought a new position in shares of Reading International during the 3rd quarter worth approximately $223,000. Krilogy Financial LLC grew its stake 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 worth $2,930,000 after acquiring an additional 30,410 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Reading International by 26.9% during the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock worth $89,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew 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. 44.70% of the stock is owned by institutional investors.

Reading International Price Performance

Shares of RDI opened at $1.06 on Monday. The stock has a market capitalization of $24.08 million, a P/E ratio of -1.38 and a beta of 0.80. Reading International has a twelve month low of $0.94 and a twelve month high of $1.65. The company has a 50 day moving average of $1.11 and a 200-day moving average of $1.14.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.10). The firm had revenue of $45.12 million for the quarter, compared to the consensus estimate of $48.13 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Reading International presently has a consensus 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.