Reading International Inc (NASDAQ:RDI) Stock Short Interest Falls 39.3%

Reading International Inc (NASDAQ:RDI) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 21,948 shares, a drop of 39.3% from the September 15th total of 36,165 shares. Based on an average daily volume of 35,709 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Reading International

An institutional investor recently raised its position in Reading International stock. Gamco Investors INC. ET AL raised its position in shares of Reading International Inc (NASDAQ:RDI) by 8.7% during the 1st quarter, according to its most recent 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 approximately 1.59% of Reading International worth $408,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 44.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Reading International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Reading International presently has an average rating of “Sell”.

Reading International Stock Performance

Shares of NASDAQ:RDI opened at $1.73 on Friday. The firm has a fifty day moving average price of $1.93 and a 200 day moving average price of $1.47. Reading International has a fifty-two week low of $0.94 and a fifty-two week high of $2.41. The firm has a market cap of $39.60 million, a price-to-earnings ratio of -3.15 and a beta of 0.87.

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

Reading International Company Profile

Reading International, Inc is an entertainment and real estate company that operates cinemas and owns, develops, and manages real estate assets. Its entertainment business focuses on the operation of movie theaters under the Reading Cinemas and Angelika Film Center brands, offering feature films, premium viewing experiences, food and beverage services, and related entertainment amenities.

Reading Cinemas operates in the United States, Australia, and New Zealand, while Angelika Film Centers primarily serves the U.S.