Reading International Inc (NASDAQ:RDI) Short Interest Update

Reading International Inc (NASDAQ:RDI) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 50,081 shares, an increase of 342.5% from the August 15th total of 11,319 shares. Based on an average daily volume of 129,448 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

Reading International Price Performance

Shares of Reading International stock opened at $2.17 on Friday. The stock’s 50 day simple moving average is $1.66 and its 200-day simple moving average is $1.32. The stock has a market cap of $49.67 million, a P/E 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 posted its quarterly earnings results on Friday, August 14th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The company had revenue of $66.90 million during the quarter, compared to analyst estimates of $63.47 million.

Institutional Trading of Reading International

A hedge fund recently raised its stake in Reading International stock. Gabelli Funds LLC increased its position in shares of Reading International Inc (NASDAQ:RDI) by 26.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,000 shares of the company’s stock after acquiring an additional 18,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.37% of Reading International worth $89,000 as of its most recent filing with the Securities and Exchange Commission. 44.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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