Reservoir Media (NASDAQ:RSVR) Shares Up 3.4% – Here’s What Happened

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price rose 3.4% on Monday . The stock traded as high as $8.13 and last traded at $8.60. Approximately 451 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 25,652 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their target price on Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a research report on Thursday, October 31st.

Reservoir Media Stock Performance

The stock has a 50-day moving average price of $8.72 and a 200 day moving average price of $8.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.37 and a quick ratio of 1.25. The firm has a market cap of $521.11 million, a PE ratio of -399.30, a P/E/G ratio of 11.87 and a beta of 0.92.

Hedge Funds Weigh In On Reservoir Media

A number of large investors have recently bought and sold shares of RSVR. The Manufacturers Life Insurance Company acquired a new position in Reservoir Media during the 2nd quarter worth $81,000. 272 Capital LP acquired a new stake in shares of Reservoir Media in the third quarter valued at approximately $122,000. E&G Advisors LP acquired a new position in Reservoir Media during the third quarter worth approximately $246,000. Inspire Investing LLC increased its stake in shares of Reservoir Media by 13.7% during the third quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock worth $429,000 after purchasing an additional 6,375 shares during the period. Finally, Jane Street Group LLC grew its position in Reservoir Media by 22.5% during the third quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock worth $430,000 after buying an additional 9,742 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.