BlackRock Inc. acquired a new position in Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,267,271 shares of the company's stock, valued at approximately $12,533,000. BlackRock Inc. owned 1.93% of Reservoir Media as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in shares of Reservoir Media by 3.6% during the 4th quarter. Hsbc Holdings PLC now owns 58,507 shares of the company's stock valued at $440,000 after buying an additional 2,042 shares in the last quarter. Boston Partners raised its holdings in Reservoir Media by 2.5% during the fourth quarter. Boston Partners now owns 91,492 shares of the company's stock valued at $693,000 after acquiring an additional 2,248 shares during the period. Invesco Ltd. raised its holdings in Reservoir Media by 22.1% during the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company's stock valued at $102,000 after acquiring an additional 2,433 shares during the period. Barclays PLC lifted its position in shares of Reservoir Media by 2.4% in the fourth quarter. Barclays PLC now owns 132,513 shares of the company's stock valued at $1,003,000 after acquiring an additional 3,087 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Reservoir Media by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company's stock valued at $687,000 after acquiring an additional 3,110 shares in the last quarter. Hedge funds and other institutional investors own 44.38% of the company's stock.
Reservoir Media Stock Down 0.3%
NASDAQ RSVR opened at $9.74 on Friday. The stock has a 50 day moving average price of $10.11 and a 200-day moving average price of $9.87. Reservoir Media, Inc. has a one year low of $7.07 and a one year high of $13.39. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $640.99 million, a P/E ratio of 74.93 and a beta of 0.74.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut Reservoir Media from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, August 20th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold".
Get Our Latest Research Report on RSVR
Reservoir Media Company Profile
(
Free Report)
Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles.
The company operates two primary segments: music publishing and recorded music.
Further Reading
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