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

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. Based on an average daily volume of 19,700 shares, the short-interest ratio is currently 6.0 days. Currently, 0.7% of the shares of the stock are sold short.

Hedge Funds Weigh In On Reading International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Logan Stone Capital LLC acquired a new stake in Reading International during the 2nd quarter valued at $38,000. Wittenberg Investment Management Inc. grew its holdings in shares of Reading International by 3.2% during the fourth quarter. Wittenberg Investment Management Inc. now owns 1,501,598 shares of the company’s stock valued at $2,868,000 after buying an additional 46,586 shares in the last quarter. Finally, Krilogy Financial LLC raised its position in Reading International by 6.7% during the second 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. Institutional investors and hedge funds own 44.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Macquarie boosted their target price on shares of Reading International from $2.00 to $2.40 and gave the stock a “neutral” rating in a report on Tuesday, July 9th. StockNews.com assumed coverage on Reading International in a report on Sunday. They issued a “sell” rating on the stock.

Reading International Stock Performance

Shares of NASDAQ:RDI remained flat at $1.80 during midday trading on Tuesday. The company had a trading volume of 57,077 shares, compared to its average volume of 16,439. The company has a fifty day simple moving average of $1.56 and a two-hundred day simple moving average of $1.62. The company 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 fifty-two week low of $1.22 and a fifty-two week high of $2.33. The company has a debt-to-equity ratio of 15.80, a quick ratio of 0.18 and a current ratio of 0.18.

Reading International (NASDAQ:RDI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.42) EPS for the quarter. The firm 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%.

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.