Reading International, Inc. (NASDAQ:RDI) Short Interest Up 15.5% in August

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

Wall Street Analysts Forecast Growth

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

Reading International Stock Performance

RDI remained flat at $1.80 during trading on Monday. 39,832 shares of the company’s stock traded hands, compared to its average volume of 16,342. The business’s fifty day simple moving average is $1.55 and its 200 day simple 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. Reading International has a 52 week low of $1.22 and a 52 week high of $2.33. The stock has a market cap of $40.37 million, a P/E ratio of -1.25 and a beta of 1.61.

Reading International (NASDAQ:RDI) last released its earnings results on Wednesday, August 14th. The company reported ($0.42) earnings per share (EPS) for the quarter. The firm had revenue of $46.81 million during 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 and hedge funds have recently bought and sold shares of the business. Wittenberg Investment Management Inc. lifted its stake in Reading International by 0.7% in the 1st quarter. Wittenberg Investment Management Inc. now owns 1,512,738 shares of the company’s stock valued at $2,783,000 after buying an additional 11,140 shares in the last quarter. Logan Stone Capital LLC acquired a new stake in shares of Reading International in the second quarter worth approximately $38,000. Finally, Krilogy Financial LLC increased its position in shares of Reading International by 6.7% during the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock worth $2,815,000 after purchasing an additional 124,326 shares in the last quarter. 44.70% of the stock is currently owned by institutional investors and hedge funds.

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.