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

Reading International, Inc. (NASDAQ:RDI) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 153,300 shares, a growth of 18.4% from the November 15th total of 129,500 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average trading volume of 27,200 shares, the short-interest ratio is currently 5.6 days.

Reading International Stock Down 1.9 %

NASDAQ:RDI traded down $0.03 during midday trading on Monday, hitting $1.51. 25,994 shares of the company were exchanged, compared to its average volume of 19,218. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 35.04. Reading International has a fifty-two week low of $1.22 and a fifty-two week high of $2.15. The company has a market capitalization of $33.86 million, a PE ratio of -0.80 and a beta of 1.60. The company has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $1.52.

Institutional Trading of Reading International

A number of hedge funds and other institutional investors have recently made changes to their positions in RDI. Krilogy Financial LLC increased its stake in Reading International by 6.7% in the second quarter. Krilogy Financial LLC now owns 1,982,288 shares of the company’s stock valued at $2,815,000 after purchasing an additional 124,326 shares during the period. Logan Stone Capital LLC purchased a new position in shares of Reading International during the second quarter worth about $38,000. Finally, Wittenberg Investment Management Inc. increased 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 acquiring an additional 21,483 shares during the period. Institutional investors and hedge funds own 44.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.