Reservoir Media (NASDAQ:RSVR) Trading Up 3.4%

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price traded up 3.4% during mid-day trading on Thursday . The company traded as high as $7.86 and last traded at $7.86. 4,410 shares changed hands during trading, a decline of 92% from the average session volume of 53,697 shares. The stock had previously closed at $7.60.

Reservoir Media Stock Up 5.4 %

The firm has a 50 day moving average price of $7.40 and a 200-day moving average price of $6.73. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The firm has a market cap of $519.21 million, a PE ratio of 107.57, a PEG ratio of 10.76 and a beta of 1.07.

Insider Activity

In related news, major shareholder Hassan Khosrowshahi bought 30,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $7.27 per share, with a total value of $218,100.00. Following the completion of the acquisition, the insider now owns 130,000 shares in the company, valued at approximately $945,100. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 125,000 shares of company stock valued at $892,329. Company insiders own 26.27% of the company’s stock.

Hedge Funds Weigh In On Reservoir Media

Several institutional investors have recently added to or reduced their stakes in RSVR. Barclays PLC grew its stake in shares of Reservoir Media by 533.4% in the fourth quarter. Barclays PLC now owns 5,492 shares of the company’s stock valued at $33,000 after buying an additional 4,625 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Reservoir Media by 408.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,954 shares of the company’s stock worth $36,000 after acquiring an additional 4,782 shares during the period. Headinvest LLC bought a new stake in shares of Reservoir Media in the 3rd quarter worth $40,000. Wells Fargo & Company MN raised its position in shares of Reservoir Media by 55.1% during the second quarter. Wells Fargo & Company MN now owns 10,246 shares of the company’s stock worth $62,000 after purchasing an additional 3,639 shares during the period. Finally, American International Group Inc. acquired a new stake in shares of Reservoir Media during the second quarter worth $62,000. 44.38% of the stock is currently owned by institutional investors and hedge funds.

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.