Reservoir Media (NASDAQ:RSVR) Trading Up 3.4% - Here's Why

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) shares rose 3.4% during trading on Monday . The company traded as high as $8.13 and last traded at $8.60. Approximately 451 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 25,652 shares. The stock had previously closed at $8.31.

Analysts Set New Price Targets

Separately, B. Riley lifted their price objective on 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 Stock Down 1.1 %

The company has a market capitalization of $535.46 million, a PE ratio of -410.29, a P/E/G ratio of 11.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.37. The company's 50-day moving average is $8.63 and its 200 day moving average is $8.28.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.06. Reservoir Media had a negative net margin of 0.22% and a positive return on equity of 0.85%. As a group, analysts anticipate that Reservoir Media, Inc. will post 0.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Reservoir Media by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,951 shares of the company's stock worth $519,000 after buying an additional 4,087 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Reservoir Media by 13.7% during the 3rd quarter. Inspire Investing LLC now owns 52,858 shares of the company's stock valued at $429,000 after acquiring an additional 6,375 shares during the last quarter. State Street Corp grew its stake in shares of Reservoir Media by 1.7% in the third quarter. State Street Corp now owns 374,862 shares of the company's stock worth $3,040,000 after acquiring an additional 6,410 shares during the period. Jane Street Group LLC raised its holdings in shares of Reservoir Media by 22.5% during the third quarter. Jane Street Group LLC now owns 53,018 shares of the company's stock valued at $430,000 after purchasing an additional 9,742 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Reservoir Media during the second quarter valued at approximately $81,000. Hedge funds and other 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.