Reservoir Media (NASDAQ:RSVR) Trading 3.4% Higher

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price shot up 3.4% on Thursday . The company traded as high as $7.86 and last traded at $7.86. 4,410 shares changed hands during mid-day 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 0.6 %

The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $518.56 million, a price-to-earnings ratio of 113.57, a P/E/G ratio of 11.36 and a beta of 1.07. The business’s 50-day moving average is $7.47 and its 200-day moving average is $6.75.

Insider Activity

In related news, major shareholder Hassan Khosrowshahi purchased 25,000 shares of Reservoir Media stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average cost of $7.04 per share, for a total transaction of $176,000.00. Following the completion of the transaction, the insider now owns 48,392 shares in the company, valued at $340,679.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 125,000 shares of company stock valued at $892,329 in the last quarter. 26.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Reservoir Media by 533.4% during the 4th quarter. Barclays PLC now owns 5,492 shares of the company’s stock valued at $33,000 after acquiring an additional 4,625 shares during the period. Tower Research Capital LLC TRC grew its holdings in Reservoir Media by 408.0% in the third quarter. Tower Research Capital LLC TRC now owns 5,954 shares of the company’s stock valued at $36,000 after purchasing an additional 4,782 shares during the period. Headinvest LLC acquired a new stake in Reservoir Media in the third quarter valued at approximately $40,000. American International Group Inc. acquired a new position in shares of Reservoir Media during the 2nd quarter worth approximately $62,000. Finally, Wells Fargo & Company MN lifted its position in shares of Reservoir Media by 55.1% during the 2nd quarter. Wells Fargo & Company MN now owns 10,246 shares of the company’s stock valued at $62,000 after buying an additional 3,639 shares in the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Company 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.