Reservoir Media (NASDAQ:RSVR) Hits New 12-Month High – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.66 and last traded at $9.64, with a volume of 4135 shares changing hands. The stock had previously closed at $9.44.

Analysts Set New Price Targets

Separately, B. Riley boosted their target price on shares of Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Reservoir Media Trading Down 1.1 %

The company’s fifty day moving average price is $8.59 and its two-hundred day moving average price is $7.96. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.90. The company has a market cap of $620.24 million, a price-to-earnings ratio of -475.26, a price-to-earnings-growth ratio of 13.74 and a beta of 0.93.

Hedge Funds Weigh In On Reservoir Media

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Reservoir Media by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock valued at $8,651,000 after buying an additional 17,830 shares during the last quarter. Geode Capital Management LLC raised its stake 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 last quarter. State Street Corp lifted its position in shares of Reservoir Media by 1.7% during the third quarter. State Street Corp now owns 374,862 shares of the company’s stock worth $3,040,000 after purchasing an additional 6,410 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 valued at $1,824,000 after purchasing an additional 85,457 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Reservoir Media by 134.9% in the second quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock valued at $559,000 after purchasing an additional 40,600 shares in the last quarter. 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.