Reading International Inc (NASDAQ:RDI) Short Interest Up 342.5% in August

Reading International Inc (NASDAQ:RDI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 50,081 shares, a growth of 342.5% from the August 15th total of 11,319 shares. Based on an average daily trading volume, of 129,448 shares, the short-interest ratio is presently 0.4 days. Approximately 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Gamco Investors INC. ET AL boosted its stake in Reading International Inc (NASDAQ:RDI) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,100 shares of the company’s stock after acquiring an additional 29,000 shares during the period. Gamco Investors INC. ET AL owned 1.59% of Reading International worth $408,000 at the end of the most recent reporting period. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

Reading International Trading Up 1.4%

Shares of RDI traded up $0.03 during midday trading on Friday, reaching $2.17. 52,648 shares of the company were exchanged, compared to its average volume of 129,162. The stock has a 50-day moving average price of $1.66 and a 200-day moving average price of $1.32. The company has a market cap of $49.67 million, a price-to-earnings ratio of -3.95 and a beta of 0.83. Reading International has a 1-year low of $0.94 and a 1-year high of $2.41.

Reading International (NASDAQ:RDI) last issued its earnings results on Friday, August 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $63.47 million.

Analyst Ratings Changes

Separately, Weiss Ratings raised Reading International from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Reading International presently 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.