Reservoir Media, Inc. (NASDAQ:RSVR) Holdings Boosted by Richmond Hill Investments LLC

Richmond Hill Investments LLC grew its holdings in Reservoir Media, Inc. (NASDAQ:RSVR) by 0.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,236,585 shares of the company’s stock after purchasing an additional 18,202 shares during the period. Reservoir Media makes up 50.4% of Richmond Hill Investments LLC’s portfolio, making the stock its biggest position. Richmond Hill Investments LLC owned about 0.22% of Reservoir Media worth $115,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RSVR. The Manufacturers Life Insurance Company acquired a new stake in shares of Reservoir Media during the 2nd quarter valued at $81,000. E&G Advisors LP acquired a new stake in Reservoir Media during the third quarter valued at $246,000. Inspire Investing LLC purchased a new position in Reservoir Media in the second quarter valued at about $367,000. Boston Partners raised its stake in shares of Reservoir Media by 10.7% during the 1st quarter. Boston Partners now owns 59,067 shares of the company’s stock worth $468,000 after purchasing an additional 5,707 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Reservoir Media by 6.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,951 shares of the company’s stock valued at $519,000 after buying an additional 4,087 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

Reservoir Media Trading Down 1.1 %

Reservoir Media stock opened at $9.51 on Wednesday. Reservoir Media, Inc. has a one year low of $5.84 and a one year high of $9.76. The company’s fifty day moving average price is $8.59 and its two-hundred day moving average price is $7.96. The company has a market capitalization of $620.24 million, a price-to-earnings ratio of -475.26, a PEG ratio of 13.74 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.37 and a quick ratio of 1.25.

Analyst Upgrades and Downgrades

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

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.