Reservoir Media (NASDAQ:RSVR) Hits New 1-Year High at $8.39

Reservoir Media, Inc. (NASDAQ:RSVR) shares reached a new 52-week high on Thursday . The stock traded as high as $8.39 and last traded at $8.35, with a volume of 16343 shares traded. The stock had previously closed at $8.30.

Reservoir Media Trading Up 2.9 %

The company’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $6.80. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The firm has a market cap of $553.56 million, a P/E ratio of 118.43, a price-to-earnings-growth ratio of 11.84 and a beta of 1.07.

Insider Transactions at Reservoir Media

In other news, major shareholder Hassan Khosrowshahi bought 30,000 shares of the stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $7.23 per share, with a total value of $216,900.00. Following the acquisition, the insider now owns 200,000 shares in the company, valued at $1,446,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have bought 125,000 shares of company stock valued at $892,329. 26.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. lifted its position in Reservoir Media by 24.3% during the 4th quarter. Federated Hermes Inc. now owns 1,864,728 shares of the company’s stock worth $13,296,000 after buying an additional 364,728 shares in the last quarter. Headinvest LLC acquired a new position in Reservoir Media during the 3rd quarter worth about $40,000. Barclays PLC lifted its position in Reservoir Media by 968.5% during the 3rd quarter. Barclays PLC now owns 42,279 shares of the company’s stock worth $258,000 after buying an additional 38,322 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Reservoir Media by 13.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 44,629 shares of the company’s stock worth $318,000 after buying an additional 5,328 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Reservoir Media during the 4th quarter worth about $79,000. Institutional investors and hedge funds 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.