Reading International Inc (NASDAQ:RDI) Sees Large Growth in Short Interest

Reading International Inc (NASDAQ:RDI) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 47,042 shares, a growth of 114.3% from the September 30th total of 21,948 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily volume of 30,170 shares, the short-interest ratio is currently 1.6 days.

Reading International Price Performance

Shares of RDI stock traded up $0.04 during trading hours on Friday, reaching $1.67. The company had a trading volume of 12,996 shares, compared to its average volume of 40,113. The firm has a market cap of $38.11 million, a price-to-earnings ratio of -3.03 and a beta of 0.87. The company has a 50 day moving average of $1.94 and a 200 day moving average of $1.38. 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 quarterly earnings data on Friday, August 14th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $66.90 million for the quarter, compared to analyst estimates of $63.47 million.

Institutional Trading of Reading International

An institutional investor recently raised its stake in Reading International stock. Gamco Investors INC. ET AL grew its holdings in shares of Reading International Inc (NASDAQ:RDI) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing. Institutional investors and hedge funds own 44.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Reading International Company Profile

Reading International, Inc (NASDAQ:RDI) is an entertainment and real estate company that operates cinema and property businesses. Its cinema exhibition operations serve audiences through the Reading Cinemas, Angelika Film Center and Consolidated Theatres brands.

The company operates cinemas in the United States, Australia and New Zealand. Its theaters typically offer feature films along with premium viewing experiences, food and beverage options, and other amenities designed to support out-of-home entertainment.

Reading International also owns and manages real estate, including entertainment and retail-oriented properties in the United States, Australia and New Zealand.