Reading International, Inc. (NASDAQ:RDI) Short Interest Update

Reading International, Inc. (NASDAQ:RDI) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 136,000 shares, an increase of 20.9% from the February 13th total of 112,500 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 86,100 shares, the days-to-cover ratio is presently 1.6 days.

Reading International Stock Performance

RDI stock traded up $0.11 during midday trading on Tuesday, hitting $1.40. The stock had a trading volume of 320,083 shares, compared to its average volume of 37,773. The firm has a market capitalization of $31.40 million, a price-to-earnings ratio of -0.74 and a beta of 1.62. Reading International has a 52 week low of $0.96 and a 52 week high of $1.95. The stock has a 50-day simple moving average of $1.47 and a 200 day simple moving average of $1.51. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Reading International in a research report on Tuesday. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Krilogy Financial LLC lifted its holdings in shares of Reading International by 11.6% during the fourth quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after acquiring an additional 246,000 shares during the period. Wittenberg Investment Management Inc. raised its holdings in shares of Reading International by 1.4% in the third quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after buying an additional 21,483 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Reading International by 3.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after buying an additional 9,500 shares during the last quarter. MassMutual Private Wealth & Trust FSB bought a new position in shares of Reading International in the fourth quarter valued at about $354,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Reading International by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 227,755 shares of the company’s stock valued at $301,000 after buying an additional 36,561 shares during the last quarter. 44.70% of the stock is owned by 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.