Short Interest in Reading International, Inc. (NASDAQ:RDI) Decreases By 15.1%

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

Reading International Price Performance

Shares of RDI traded down $0.06 during mid-day trading on Thursday, reaching $1.25. The stock had a trading volume of 18,709 shares, compared to its average volume of 38,719. The business has a fifty day moving average of $1.46 and a 200 day moving average of $1.48. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market cap of $28.03 million, a price-to-earnings ratio of -0.66 and a beta of 1.62. Reading International has a 12 month low of $1.22 and a 12 month high of $1.90.

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

Institutional Trading of Reading International

Several institutional investors have recently made changes to their positions in the business. Krilogy Financial LLC lifted its holdings in Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock worth $3,115,000 after purchasing an additional 246,000 shares in the last quarter. MassMutual Private Wealth & Trust FSB purchased a new position in shares of Reading International in the fourth quarter worth $354,000. Wells Fargo & Company MN lifted 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 worth $301,000 after buying an additional 36,561 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Reading International by 10.1% during the fourth 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 during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position 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 worth $359,000 after acquiring an additional 9,500 shares during the last quarter. Hedge funds and other institutional investors own 44.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Reading International in a research report on Thursday. They set a “sell” rating on the stock.

Reading International Company Profile

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.