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

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

Reading International Stock Up 1.4%

RDI opened at $2.17 on Friday. The company has a market cap of $49.67 million, a price-to-earnings ratio of -3.95 and a beta of 0.83. Reading International has a 52-week low of $0.94 and a 52-week high of $2.41. The firm’s fifty day simple moving average is $1.66 and its two-hundred day simple moving average is $1.32.

Reading International (NASDAQ:RDI) last released its earnings results 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 analysts’ expectations of $63.47 million.

Hedge Funds Weigh In On Reading International

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

Wall Street Analyst Weigh In

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

Reading International Company Profile

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.