Reservoir Media (NASDAQ:RSVR) Shares Down 5.2% – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price was down 5.2% on Thursday . The stock traded as low as $8.58 and last traded at $8.58. Approximately 27,214 shares changed hands during trading, a decline of 50% from the average daily volume of 54,377 shares. The stock had previously closed at $9.05.

Analyst Ratings Changes

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

Reservoir Media Trading Down 0.6 %

The stock has a fifty day simple moving average of $9.00 and a 200 day simple moving average of $8.17. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.37. The firm has a market cap of $553.74 million, a P/E ratio of -424.29, a price-to-earnings-growth ratio of 12.93 and a beta of 0.93.

Institutional Trading of Reservoir Media

A number of institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Reservoir Media in the second quarter worth $81,000. 272 Capital LP bought a new stake in shares of Reservoir Media during the 3rd quarter valued at about $122,000. E&G Advisors LP purchased a new stake in shares of Reservoir Media during the 3rd quarter valued at about $246,000. Inspire Investing LLC bought a new position in shares of Reservoir Media in the 2nd quarter worth approximately $367,000. Finally, Jane Street Group LLC lifted its stake in shares of Reservoir Media by 22.5% in the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock worth $430,000 after purchasing an additional 9,742 shares during the period. Hedge funds and other institutional investors own 44.38% of the company’s stock.

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.