Reading International, Inc. (NASDAQ:RDI) Sees Large Decline in Short Interest

Reading International, Inc. (NASDAQ:RDI) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 115,400 shares, a decline of 15.1% from the February 28th total of 136,000 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 91,800 shares, the days-to-cover ratio is currently 1.3 days.

Reading International Stock Up 0.7 %

NASDAQ:RDI traded up $0.01 on Wednesday, hitting $1.38. The stock had a trading volume of 13,738 shares, compared to its average volume of 38,635. The firm’s fifty day simple moving average is $1.46 and its two-hundred day simple moving average is $1.48. The stock has a market cap of $30.95 million, a P/E ratio of -0.73 and a beta of 1.62. Reading International has a 1 year low of $1.22 and a 1 year high of $1.90. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17.

Reading International (NASDAQ:RDI) last announced its quarterly earnings results on Monday, March 31st. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.31. Reading International had a negative net margin of 21.22% and a negative return on equity of 258.21%. The company had revenue of $58.58 million for the quarter, compared to analysts’ expectations of $53.00 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Reading International in a research note on Wednesday, March 26th. They set a “sell” rating for the company.

Hedge Funds Weigh In On Reading International

Hedge funds and other institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB bought a new stake in Reading International in the fourth quarter valued at approximately $354,000. Krilogy Financial LLC lifted its holdings in Reading International by 11.6% in the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after buying an additional 246,000 shares during the period. Wells Fargo & Company MN boosted its position in shares of Reading International by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after purchasing an additional 36,561 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Reading International by 10.1% in the 4th quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock worth $278,000 after acquiring an additional 19,224 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Reading International by 3.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares during the last quarter. 44.70% of the stock is currently owned by hedge funds and other institutional investors.

About Reading International

Reading International, Inc, together with its subsidiaries, focuses on the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas.