Sanders Morris Harris LLC Reduces Stake in Reservoir Media, Inc. (NASDAQ:RSVR)

Sanders Morris Harris LLC reduced its position in shares of Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 616,709 shares of the company's stock after selling 117,541 shares during the period. Reservoir Media accounts for about 0.8% of Sanders Morris Harris LLC's holdings, making the stock its 20th biggest position. Sanders Morris Harris LLC owned approximately 0.95% of Reservoir Media worth $5,464,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RSVR. The Manufacturers Life Insurance Company purchased a new position in Reservoir Media in the second quarter worth $81,000. 272 Capital LP bought a new stake in shares of Reservoir Media during the 3rd quarter worth $122,000. E&G Advisors LP bought a new position in Reservoir Media during the third quarter valued at about $246,000. Inspire Investing LLC bought a new position in Reservoir Media during the second quarter valued at about $367,000. Finally, Jane Street Group LLC raised its position in Reservoir Media by 22.5% in the third quarter. Jane Street Group LLC now owns 53,018 shares of the company's stock worth $430,000 after acquiring an additional 9,742 shares during the period. 44.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Reservoir Media Stock Performance

Shares of RSVR traded down $0.20 during mid-day trading on Thursday, hitting $7.64. The stock had a trading volume of 11,865 shares, compared to its average volume of 24,667. Reservoir Media, Inc. has a 52 week low of $5.95 and a 52 week high of $9.83. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.37 and a quick ratio of 1.25. The business has a fifty day moving average price of $8.91 and a 200-day moving average price of $8.23. The firm has a market cap of $498.28 million, a P/E ratio of -381.81, a PEG ratio of 11.31 and a beta of 0.94.

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.