Reading International, Inc. (NASDAQ:RDI) Sees Significant Increase in Short Interest

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC increased 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 in the last quarter. Wittenberg Investment Management Inc. grew its position in Reading International by 1.4% in the 3rd quarter. Wittenberg Investment Management Inc. now owns 1,558,791 shares of the company’s stock valued at $2,541,000 after purchasing an additional 21,483 shares during the period. Gamco Investors INC. ET AL increased its stake in Reading International by 3.6% during the 4th quarter. Gamco Investors INC. ET AL now owns 272,100 shares of the company’s stock valued at $359,000 after purchasing an additional 9,500 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new position in Reading International during the fourth quarter worth $354,000. Finally, Wells Fargo & Company MN raised its holdings in Reading International by 19.1% during 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 during the last quarter. 44.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Reading International in a research note on Tuesday. They issued a “sell” rating on the stock.

Reading International Price Performance

Reading International stock opened at $1.45 on Thursday. The stock’s 50 day moving average price is $1.47 and its two-hundred day moving average price is $1.51. The stock has a market capitalization of $32.52 million, a price-to-earnings ratio of -0.77 and a beta of 1.62. The company has a debt-to-equity ratio of 35.04, a quick ratio of 0.17 and a current ratio of 0.17. Reading International has a 52-week low of $1.22 and a 52-week high of $1.92.

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.