Reservoir Media (NASDAQ:RSVR) Sets New 1-Year High – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price reached a new 52-week high 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.

Analysts Set New Price Targets

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

Reservoir Media Trading Up 4.6 %

The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $613.07 million, a P/E ratio of -449.78, a price-to-earnings-growth ratio of 12.57 and a beta of 0.89. The company has a 50-day moving average price of $8.36 and a 200 day moving average price of $7.92.

Institutional Trading of Reservoir Media

Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in Reservoir Media in the second quarter valued at approximately $81,000. E&G Advisors LP purchased a new stake in shares of Reservoir Media during the 3rd quarter valued at $246,000. Inspire Investing LLC purchased a new position in Reservoir Media during the 2nd quarter worth $367,000. Jane Street Group LLC increased its position in Reservoir Media by 22.5% during the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock valued at $430,000 after buying an additional 9,742 shares in the last quarter. Finally, Boston Partners raised its stake in Reservoir Media by 10.7% in the first quarter. Boston Partners now owns 59,067 shares of the company’s stock valued at $468,000 after buying an additional 5,707 shares during the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.