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

Reading International, Inc. (NASDAQ:RDI) was the recipient of a large increase in short interest during the month of 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 shares of the company 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 remained flat at $1.80 during trading hours on Tuesday. The company had a trading volume of 57,077 shares, compared to its average volume of 16,439. The business’s fifty day moving average is $1.56 and its 200-day moving average is $1.62. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 15.80. The stock has a market capitalization of $40.37 million, a price-to-earnings ratio of -1.22 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 issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) earnings per share for the quarter. The company had revenue of $46.81 million for the quarter. Reading International had a negative net margin of 19.32% and a negative return on equity of 153.86%.

Institutional Trading of Reading International

Institutional investors have recently made changes to their positions in the stock. Logan Stone Capital LLC acquired a new position in shares of Reading International during the second quarter valued at approximately $38,000. Wittenberg Investment Management Inc. increased its position 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 valued at $2,783,000 after purchasing an additional 11,140 shares during the period. Finally, Krilogy Financial LLC raised its stake 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 worth $2,815,000 after buying an additional 124,326 shares in the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Macquarie boosted their price target on shares of Reading International from $2.00 to $2.40 and gave the company a “neutral” rating in a report on Tuesday, July 9th. StockNews.com assumed coverage on shares of Reading International in a research note on Sunday. They set a “sell” rating for the company.

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.