Reservoir Media (NASDAQ:RSVR) Sees Unusually-High Trading Volume – Still a Buy?

Reservoir Media, Inc. (NASDAQ:RSVR) shares saw unusually-high trading volume on Tuesday . Approximately 39,755 shares were traded during mid-day trading, an increase of 23% from the previous session’s volume of 32,397 shares.The stock last traded at $7.76 and had previously closed at $7.51.

Reservoir Media Stock Down 0.9 %

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average is $8.03 and its 200 day moving average is $8.32. The stock has a market capitalization of $484.36 million, a PE ratio of 67.51, a price-to-earnings-growth ratio of 7.16 and a beta of 0.93.

Reservoir Media (NASDAQ:RSVR) last announced its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. As a group, analysts anticipate that Reservoir Media, Inc. will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Reservoir Media

Several hedge funds and other institutional investors have recently modified their holdings of RSVR. BNP Paribas Financial Markets purchased a new position in Reservoir Media during the fourth quarter worth approximately $51,000. 272 Capital LP purchased a new stake in Reservoir Media during the 3rd quarter worth approximately $122,000. Wells Fargo & Company MN grew its stake in Reservoir Media by 22.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company’s stock worth $125,000 after purchasing an additional 2,531 shares in the last quarter. Meridian Wealth Advisors LLC raised its position in Reservoir Media by 49.7% in the 4th quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company’s stock valued at $136,000 after purchasing an additional 4,974 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Reservoir Media by 21.3% in the 4th quarter. Bank of America Corp DE now owns 30,062 shares of the company’s stock valued at $272,000 after buying an additional 5,273 shares during the period. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.