Reservoir Media (NASDAQ:RSVR) Trading Up 3.4% – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR) was up 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.

Analyst Upgrades and Downgrades

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

Reservoir Media Stock Up 1.6 %

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 50-day moving average price of $8.67 and a two-hundred day moving average price of $8.28.

Reservoir Media (NASDAQ:RSVR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 EPS for the quarter, beating 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%. Analysts anticipate that Reservoir Media, Inc. will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new position in Reservoir Media during the second quarter valued at $81,000. 272 Capital LP purchased a new stake in Reservoir Media in the 3rd quarter worth about $122,000. E&G Advisors LP bought a new stake in Reservoir Media in the third quarter worth about $246,000. Inspire Investing LLC boosted its position in shares of Reservoir Media by 13.7% during the third quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock valued at $429,000 after buying an additional 6,375 shares during the period. Finally, Jane Street Group LLC grew its stake 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 buying an additional 9,742 shares during the last quarter. Institutional investors 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.