Sanders Morris Harris LLC Has $5.46 Million Stock Holdings in Reservoir Media, Inc. (NASDAQ:RSVR)

Sanders Morris Harris LLC reduced its position in Reservoir Media, Inc. (NASDAQ:RSVR) by 16.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 616,709 shares of the company’s stock after selling 117,541 shares during the period. Reservoir Media comprises 0.8% of Sanders Morris Harris LLC’s holdings, making the stock its 20th largest position. Sanders Morris Harris LLC owned about 0.95% of Reservoir Media worth $5,464,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Reservoir Media by 58.7% during the second quarter. Dimensional Fund Advisors LP now owns 231,113 shares of the company’s stock worth $1,824,000 after acquiring an additional 85,457 shares during the period. Inspire Investing LLC bought a new position in Reservoir Media in the 2nd quarter valued at about $367,000. Renaissance Technologies LLC increased its holdings in Reservoir Media by 134.9% in the 2nd quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock valued at $559,000 after buying an additional 40,600 shares during the period. JPMorgan Chase & Co. raised its position in shares of Reservoir Media by 161.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 65,537 shares of the company’s stock valued at $532,000 after buying an additional 40,484 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Reservoir Media by 113.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock worth $551,000 after acquiring an additional 36,068 shares during the period. Institutional investors own 44.38% of the company’s stock.

Reservoir Media Price Performance

Shares of NASDAQ:RSVR opened at $7.84 on Thursday. Reservoir Media, Inc. has a one year low of $5.95 and a one year high of $9.83. The firm has a 50 day simple moving average of $8.94 and a 200 day simple moving average of $8.23. 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 company has a market cap of $511.32 million, a price-to-earnings ratio of -391.80, a PEG ratio of 11.31 and a beta of 0.94.

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their price objective on shares of 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 Profile

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.