Reading International, Inc. (NASDAQ:RDIB) Sees Large Drop in Short Interest

Reading International, Inc. (NASDAQ:RDIB) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 6,631 shares, a decrease of 21.1% from the March 15th total of 8,409 shares. Based on an average trading volume of 4,239 shares, the short-interest ratio is presently 1.6 days.

Institutional Investors Weigh In On Reading International

A hedge fund recently bought a new stake in Reading International stock. Teton Advisors LLC acquired a new position in shares of Reading International, Inc. (NASDAQ:RDIB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 75,030 shares of the company’s stock, valued at approximately $838,000. 0.43% of the stock is owned by institutional investors.

Reading International Trading Down 2.5%

Reading International stock traded down $0.25 during trading hours on Thursday, reaching $9.70. 6,693 shares of the stock were exchanged, compared to its average volume of 26,720. Reading International has a twelve month low of $8.00 and a twelve month high of $17.40. The stock has a 50 day moving average of $10.92 and a two-hundred day moving average of $11.38.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reading International in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

About Reading International

Reading International, Inc is an entertainment and real estate company, which engages in the development, ownership, and operation of multiplex cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. It operates through the Cinema Exhibition and Real Estate segments. The Cinema Exhibition segment includes Reading Cinemas, Angelika Film Center, Consolidated Theatres, City Cinemas, 44 Union Square, and Liberty Theatres brands. The Real Estate segment comprises real estate development and the rental or licensing of retail, commercial and live theater assets.