Short Interest in Reading International Inc (NASDAQ:RDI) Declines By 74.3%

Reading International Inc (NASDAQ:RDI) saw a significant decrease in short interest in August. As of August 14th, there was short interest totaling 11,319 shares, a decrease of 74.3% from the July 30th total of 44,029 shares. Based on an average daily volume of 70,130 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Reading International Stock Performance

Reading International stock traded down $0.09 during trading hours on Friday, reaching $2.01. 88,385 shares of the company’s stock traded hands, compared to its average volume of 38,011. Reading International has a fifty-two week low of $0.94 and a fifty-two week high of $2.13. The firm has a market capitalization of $46.01 million, a price-to-earnings ratio of -3.65 and a beta of 0.77. The firm’s 50 day moving average is $1.47 and its 200-day moving average is $1.24.

Reading International (NASDAQ:RDI) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $66.90 million for the quarter, compared to analyst estimates of $63.47 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Reading International stock. Gamco Investors INC. ET AL raised its stake in Reading International Inc (NASDAQ:RDI) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 361,100 shares of the company’s stock after buying an additional 29,000 shares during the quarter. Gamco Investors INC. ET AL owned 1.59% of Reading International worth $408,000 as of its most recent filing with the Securities and Exchange Commission. 44.70% of the stock is currently owned by institutional investors.

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.