Short Interest in Reading International, Inc. (NASDAQ:RDI) Expands By 15.5%

Reading International, Inc. (NASDAQ:RDI) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 118,400 shares, an increase of 15.5% from the August 15th total of 102,500 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 19,700 shares, the days-to-cover ratio is currently 6.0 days.

Reading International Stock Performance

RDI stock remained flat at $1.80 during trading on Monday. The company had a trading volume of 39,832 shares, compared to its average volume of 16,342. The firm’s 50-day moving average price is $1.55 and its 200-day moving average price is $1.62. The company has a debt-to-equity ratio of 15.80, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $40.37 million, a PE ratio of -1.25 and a beta of 1.61. Reading International has a 12-month low of $1.22 and a 12-month high of $2.33.

Reading International (NASDAQ:RDI) last posted its earnings results on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%. The company had revenue of $46.81 million during the quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RDI. Macquarie increased their target price on shares of Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a research note on Tuesday, July 9th. StockNews.com began coverage on shares of Reading International in a research note on Sunday. They set a “sell” rating on the stock.

Institutional Investors Weigh In On Reading International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Logan Stone Capital LLC purchased a new position in shares of Reading International during the second quarter worth about $38,000. Wittenberg Investment Management Inc. raised its stake in shares of Reading International by 0.7% during the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock worth $2,783,000 after buying an additional 11,140 shares in the last quarter. Finally, Krilogy Financial LLC lifted its holdings in shares of Reading International by 6.7% in the 2nd quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after buying an additional 124,326 shares during the period. Hedge funds and other institutional investors own 44.70% of the company’s stock.

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.