Reading International, Inc. (NASDAQ:RDI) Short Interest Down 8.2% in October

Reading International, Inc. (NASDAQ:RDI) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 437,500 shares, a decline of 8.2% from the September 30th total of 476,600 shares. Approximately 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 33,500 shares, the days-to-cover ratio is presently 13.1 days.

A number of research firms have commented on RDI. Goldman Sachs Group boosted their target price on Reading International from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Peel Hunt reiterated an “add” rating on shares of Reading International in a research report on Tuesday, October 22nd. BidaskClub downgraded Reading International from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, ValuEngine upgraded Reading International from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.67.

RDI opened at $11.09 on Tuesday. The business’s fifty day moving average is $11.65 and its two-hundred day moving average is $12.73. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.21 and a current ratio of 0.17. The company has a market cap of $256.36 million, a price-to-earnings ratio of 43.46 and a beta of 1.08. Reading International has a one year low of $10.81 and a one year high of $16.72.

Reading International (NASDAQ:RDI) last posted its earnings results on Wednesday, November 13th. The company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.08). The firm had revenue of $70.46 million for the quarter. Reading International had a return on equity of 3.52% and a net margin of 2.18%.

In related news, EVP Margaret Cotter sold 8,500 shares of Reading International stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $12.36, for a total value of $105,060.00. Following the sale, the executive vice president now directly owns 801,362 shares in the company, valued at $9,904,834.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 25.66% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Yacktman Asset Management LP boosted its position in shares of Reading International by 85.0% in the second quarter. Yacktman Asset Management LP now owns 215,850 shares of the company’s stock worth $2,802,000 after buying an additional 99,145 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Reading International by 1,879.9% in the second quarter. Russell Investments Group Ltd. now owns 49,498 shares of the company’s stock worth $641,000 after buying an additional 46,998 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new stake in shares of Reading International in the second quarter worth about $350,000. Teton Advisors Inc. boosted its position in shares of Reading International by 3.6% in the second quarter. Teton Advisors Inc. now owns 525,269 shares of the company’s stock worth $6,818,000 after buying an additional 18,417 shares during the period. Finally, Parametric Portfolio Associates LLC purchased a new stake in shares of Reading International in the second quarter worth about $145,000. Institutional investors own 40.45% of the company’s stock.

Reading International Company Profile

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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