Reading International Inc (NASDAQ:RDI) Stock Short Interest Report for September

Reading International Inc (NASDAQ:RDI) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 21,948 shares, a drop of 39.3% from the September 15th total of 36,165 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 35,709 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Reading International from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

Reading International Stock Down 3.4%

Shares of RDI stock traded down $0.06 during trading hours on Friday, hitting $1.73. 13,733 shares of the company’s stock traded hands, compared to its average volume of 34,433. The stock’s fifty day simple moving average is $1.93 and its two-hundred day simple moving average is $1.47. Reading International has a 12-month low of $0.94 and a 12-month high of $2.41. The stock has a market cap of $39.60 million, a price-to-earnings ratio of -3.15 and a beta of 0.87.

Reading International (NASDAQ:RDI) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $66.90 million during the quarter, compared to analysts’ expectations of $63.47 million.

Institutional Investors Weigh In On Reading International

A hedge fund recently raised its stake in Reading International stock. Gamco Investors INC. ET AL grew its stake in shares of Reading International Inc (NASDAQ:RDI) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 361,100 shares of the company’s stock after acquiring an additional 29,000 shares during the quarter. Gamco Investors INC. ET AL owned about 1.59% of Reading International worth $408,000 as of its most recent SEC filing. Institutional investors and hedge funds own 44.70% of the company’s stock.

Reading International Company Profile

Reading International, Inc is an entertainment and real estate company that operates cinemas and owns, develops, and manages real estate assets. Its entertainment business focuses on the operation of movie theaters under the Reading Cinemas and Angelika Film Center brands, offering feature films, premium viewing experiences, food and beverage services, and related entertainment amenities.

Reading Cinemas operates in the United States, Australia, and New Zealand, while Angelika Film Centers primarily serves the U.S.