Reservoir Media (NASDAQ:RSVR) Trading 3.4% Higher

Reservoir Media, Inc. (NASDAQ:RSVR) rose 3.4% during trading on Thursday . The stock traded as high as $7.86 and last traded at $7.86. Approximately 4,410 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 53,697 shares. The stock had previously closed at $7.60.

Reservoir Media Trading Up 0.6 %

The stock has a 50-day moving average price of $7.47 and a two-hundred day moving average price of $6.75. The stock has a market capitalization of $518.56 million, a PE ratio of 113.57, a PEG ratio of 11.36 and a beta of 1.07. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.26.

Insider Buying and Selling at Reservoir Media

In other news, major shareholder Hassan Khosrowshahi acquired 23,392 shares of Reservoir Media stock in a transaction dated Friday, February 16th. The stock was purchased at an average cost of $7.00 per share, with a total value of $163,744.00. Following the completion of the purchase, the insider now directly owns 23,392 shares in the company, valued at approximately $163,744. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought 125,000 shares of company stock valued at $892,329 over the last 90 days. 26.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Reservoir Media

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its stake in Reservoir Media by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,181 shares of the company’s stock worth $365,000 after purchasing an additional 1,705 shares during the period. Northern Trust Corp boosted its position in shares of Reservoir Media by 3.0% during the first quarter. Northern Trust Corp now owns 58,961 shares of the company’s stock worth $580,000 after acquiring an additional 1,730 shares during the last quarter. Vanguard Group Inc. grew its stake in Reservoir Media by 0.3% during the first quarter. Vanguard Group Inc. now owns 881,761 shares of the company’s stock valued at $8,667,000 after acquiring an additional 2,216 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Reservoir Media by 3.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 91,127 shares of the company’s stock valued at $549,000 after acquiring an additional 2,626 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Reservoir Media by 27.2% in the 4th quarter. Bank of America Corp DE now owns 13,941 shares of the company’s stock worth $83,000 after purchasing an additional 2,977 shares in the last quarter. 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.