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

Reading International, Inc. (NASDAQ:RDI) was the recipient of a significant drop in short interest in February. As of February 15th, there was short interest totalling 112,500 shares, a drop of 22.6% from the January 31st total of 145,400 shares. Based on an average daily volume of 90,500 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.7% of the company’s stock are sold short.

Institutional Investors Weigh In On Reading International

A number of large investors have recently bought and sold shares of the company. Krilogy Financial LLC boosted its holdings in shares of Reading International by 11.6% in the 4th quarter. Krilogy Financial LLC now owns 2,359,610 shares of the company’s stock valued at $3,115,000 after purchasing an additional 246,000 shares in the last quarter. Wittenberg Investment Management Inc. lifted its position in shares of Reading International by 1.4% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock worth $2,541,000 after buying an additional 21,483 shares during the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Reading International in the fourth quarter valued at about $354,000. Wells Fargo & Company MN grew its position in 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 acquiring an additional 36,561 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Reading International by 10.1% in the fourth quarter. Geode Capital Management LLC now owns 210,461 shares of the company’s stock valued at $278,000 after acquiring an additional 19,224 shares during the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

Reading International Stock Performance

RDI traded up $0.04 during trading on Thursday, hitting $1.37. The stock had a trading volume of 538 shares, compared to its average volume of 36,258. The company has a debt-to-equity ratio of 35.04, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $30.61 million, a price-to-earnings ratio of -0.73 and a beta of 1.62. The company has a 50 day moving average price of $1.48 and a 200-day moving average price of $1.53. Reading International has a one year low of $1.22 and a one year high of $1.95.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Reading International in a report on Sunday. They issued a “sell” rating on the 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.