Reservoir Media (NASDAQ:RSVR) Reaches New 52-Week High – Here’s What Happened

Reservoir Media, Inc. (NASDAQ:RSVR) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.33 and last traded at $9.27, with a volume of 10054 shares. The stock had previously closed at $8.99.

Wall Street Analyst Weigh In

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 report on Thursday, October 31st.

Reservoir Media Price Performance

The stock has a fifty day moving average of $8.36 and a 200 day moving average of $7.92. 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 stock has a market cap of $613.07 million, a price-to-earnings ratio of -449.78, a P/E/G ratio of 12.57 and a beta of 0.89.

Institutional Trading of Reservoir Media

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Reservoir Media by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock worth $8,651,000 after purchasing an additional 17,830 shares during the period. AWM Investment Company Inc. increased its holdings in Reservoir Media by 2.1% in the first quarter. AWM Investment Company Inc. now owns 716,662 shares of the company’s stock valued at $5,683,000 after buying an additional 15,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Reservoir Media by 2.3% in the third quarter. Geode Capital Management LLC now owns 620,941 shares of the company’s stock worth $5,037,000 after acquiring an additional 13,836 shares during the period. State Street Corp boosted its stake in shares of Reservoir Media by 1.7% during the 3rd quarter. State Street Corp now owns 374,862 shares of the company’s stock worth $3,040,000 after acquiring an additional 6,410 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Reservoir Media by 14.8% during the 1st quarter. Russell Investments Group Ltd. now owns 261,691 shares of the company’s stock valued at $2,075,000 after acquiring an additional 33,819 shares during the period. 44.38% of the stock is owned by institutional investors and hedge funds.

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.