Reading International Inc (NASDAQ:RDI) Short Interest Down 59.7% in December

Reading International Inc (NASDAQ:RDI) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 110,999 shares, a decline of 59.7% from the December 15th total of 275,230 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 115,693 shares, the days-to-cover ratio is currently 1.0 days. Based on an average trading volume of 115,693 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Reading International in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Reading International presently has a consensus rating of “Sell”.

Reading International Stock Down 1.8%

NASDAQ RDI traded down $0.02 on Thursday, reaching $1.09. The company had a trading volume of 5,203 shares, compared to its average volume of 34,780. Reading International has a 52 week low of $1.00 and a 52 week high of $1.87. The stock’s 50 day moving average is $1.17 and its 200-day moving average is $1.33. The stock has a market cap of $24.76 million, a price-to-earnings ratio of -1.79 and a beta of 0.89.

Reading International (NASDAQ:RDI) last posted its earnings results on Friday, November 14th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.09). The firm had revenue of $52.17 million during the quarter, compared to the consensus estimate of $58.75 million.

Institutional Investors Weigh In On Reading International

Hedge funds have recently bought and sold shares of the company. Krilogy Financial LLC boosted its position in shares of Reading International by 12.5% during the second quarter. Krilogy Financial LLC now owns 2,815,145 shares of the company’s stock worth $3,772,000 after purchasing an additional 312,535 shares in the last quarter. Teton Advisors LLC acquired a new stake in Reading International during the 3rd quarter worth $223,000. Investment Counsel Co. of Nevada bought a new position in Reading International during the second quarter worth about $49,000. Finally, Mraz Amerine & Associates Inc. bought a new position in Reading International during the second quarter worth about $25,000. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.