Reading International Inc (NASDAQ:RDI) Short Interest Down 30.2% in April

Reading International Inc (NASDAQ:RDI) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 42,386 shares, a drop of 30.2% from the March 31st total of 60,739 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 23,228 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Reading International in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Reading International

A number of hedge funds and other institutional investors have recently modified their holdings of RDI. Teton Advisors LLC acquired a new stake in shares of Reading International in the 3rd quarter valued at $223,000. Gamco Investors INC. ET AL raised its holdings in shares of Reading International by 20.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock valued at $349,000 after purchasing an additional 55,500 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of Reading International by 1.2% in the 4th quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock valued at $2,930,000 after purchasing an additional 30,410 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in shares of Reading International by 26.9% in the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after purchasing an additional 18,000 shares in the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

Reading International Stock Down 1.3%

Reading International stock traded down $0.02 during mid-day trading on Tuesday, reaching $1.14. 7,798 shares of the company’s stock were exchanged, compared to its average volume of 28,043. The company has a market cap of $25.78 million, a P/E ratio of -1.83 and a beta of 0.86. Reading International has a twelve month low of $0.94 and a twelve month high of $1.65. The company has a fifty day moving average of $1.11 and a 200-day moving average of $1.17.

Reading International (NASDAQ:RDI) last released its earnings results on Tuesday, March 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.09. The business had revenue of $50.27 million for the quarter, compared to analyst estimates of $53.27 million.

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.