Reading International, Inc. (NASDAQ:RDI) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 391,000 shares, a growth of 13.3% from the May 15th total of 345,000 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,800 shares, the short-interest ratio is presently 13.1 days.
NASDAQ RDI opened at $12.91 on Friday. The stock has a market cap of $296.44 million, a PE ratio of 32.27 and a beta of 1.16. Reading International has a fifty-two week low of $12.56 and a fifty-two week high of $16.72. The business has a 50 day moving average of $13.19. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.24 and a current ratio of 0.24.
Reading International (NASDAQ:RDI) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.17). The company had revenue of $61.55 million during the quarter, compared to analysts’ expectations of $65.60 million. Reading International had a return on equity of 5.09% and a net margin of 3.11%. Equities analysts anticipate that Reading International will post 0.44 EPS for the current fiscal year.
In related news, insider Margaret Cotter sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $13.06, for a total value of $65,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 30,005 shares of company stock valued at $399,346 in the last three months. 25.66% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Reading International by 511.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,516 shares of the company’s stock valued at $56,000 after buying an additional 2,941 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Reading International by 448.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,330 shares of the company’s stock valued at $92,000 after acquiring an additional 5,175 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of Reading International in the 1st quarter valued at approximately $117,000. LPL Financial LLC bought a new position in shares of Reading International in the 4th quarter valued at approximately $160,000. Finally, Bank of America Corp DE raised its stake in shares of Reading International by 75.0% in the 4th quarter. Bank of America Corp DE now owns 11,745 shares of the company’s stock valued at $171,000 after acquiring an additional 5,035 shares in the last quarter. Institutional investors own 39.48% of the company’s stock.
A number of research firms recently issued reports on RDI. Zacks Investment Research downgraded shares of Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. BidaskClub downgraded shares of ZIX from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Reading International has an average rating of “Hold” and a consensus price target of $19.00.
About Reading International
Reading International, Inc engages in 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.
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