Reading International Inc (NASDAQ:RDI) Short Interest Down 49.5% in February

Reading International Inc (NASDAQ:RDI) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 35,040 shares, a decline of 49.5% from the February 12th total of 69,433 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 22,912 shares, the days-to-cover ratio is currently 1.5 days. Based on an average trading volume of 22,912 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Reading International in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Reading International currently has a consensus rating of “Sell”.

Reading International Stock Performance

Reading International stock traded down $0.01 during midday trading on Friday, reaching $1.09. 5,134 shares of the company’s stock were exchanged, compared to its average volume of 22,116. The stock’s 50-day simple moving average is $1.08 and its 200 day simple moving average is $1.25. The firm has a market cap of $24.76 million, a price-to-earnings ratio of -1.79 and a beta of 0.89. Reading International has a 52 week low of $0.94 and a 52 week high of $1.65.

Institutional Investors Weigh In On Reading International

A number of large investors have recently added to or reduced their stakes in RDI. Investment Counsel Co. of Nevada bought a new position in Reading International during the second quarter worth about $49,000. Gabelli Funds LLC lifted 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 shares of Reading International during the 3rd quarter worth $223,000. Gamco Investors INC. ET AL increased its position in shares of Reading International by 20.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 332,100 shares of the company’s stock worth $349,000 after purchasing an additional 55,500 shares during the period. Finally, Krilogy Financial LLC raised its stake in Reading International by 1.2% in the fourth 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. Institutional investors own 44.70% of the company’s stock.

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.