Reading International Inc (NASDAQ:RDI) Sees Significant Decline in Short Interest

Reading International Inc (NASDAQ:RDI) was the target of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 25,971 shares, a decrease of 25.9% from the February 26th total of 35,040 shares. Based on an average trading volume of 20,900 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Reading International in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Reading International Stock Performance

RDI stock opened at $1.09 on Tuesday. The firm has a market cap of $24.76 million, a price-to-earnings ratio of -1.79 and a beta of 0.88. Reading International has a one year low of $0.94 and a one year high of $1.65. The firm has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.22.

Institutional Investors Weigh In On Reading International

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Investment Counsel Co. of Nevada purchased a new position in Reading International in the 2nd quarter worth $49,000. Gabelli Funds LLC grew its position in shares of Reading International by 26.9% during the 4th quarter. Gabelli Funds LLC now owns 85,000 shares of the company’s stock valued at $89,000 after acquiring an additional 18,000 shares during the period. Teton Advisors LLC acquired a new stake in Reading International in the third quarter valued at approximately $223,000. Gamco Investors INC. ET AL grew its stake in 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 acquiring an additional 55,500 shares during the period. Finally, Krilogy Financial LLC increased its stake in shares of Reading International by 1.2% during the fourth quarter. Krilogy Financial LLC now owns 2,592,860 shares of the company’s stock worth $2,930,000 after purchasing an additional 30,410 shares in the last quarter. 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.