Reservoir Media (NASDAQ:RSVR) Hits New 52-Week High at $8.20

Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $8.20 and last traded at $8.10, with a volume of 3180 shares changing hands. The stock had previously closed at $8.02.

Reservoir Media Price Performance

The company's 50-day simple moving average is $7.20 and its 200 day simple moving average is $6.59. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.26. The company has a market cap of $526.35 million, a PE ratio of 113.29, a PEG ratio of 11.23 and a beta of 1.07.

Insider Buying and Selling

In related news, major shareholder Hassan Khosrowshahi purchased 30,000 shares of Reservoir Media stock in a transaction on Thursday, February 29th. The shares were bought at an average price of $7.27 per share, with a total value of $218,100.00. Following the transaction, the insider now directly owns 130,000 shares of the company's stock, valued at $945,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 125,000 shares of company stock valued at $892,329 in the last three months. 26.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Reservoir Media

Several large investors have recently bought and sold shares of RSVR. Charles Schwab Investment Management Inc. increased its position in shares of Reservoir Media by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 61,181 shares of the company's stock worth $365,000 after purchasing an additional 1,705 shares in the last quarter. Northern Trust Corp grew its stake in Reservoir Media by 3.0% during the 1st quarter. Northern Trust Corp now owns 58,961 shares of the company's stock worth $580,000 after buying an additional 1,730 shares during the last quarter. Vanguard Group Inc. increased its position in Reservoir Media by 0.3% during the first quarter. Vanguard Group Inc. now owns 881,761 shares of the company's stock worth $8,667,000 after buying an additional 2,216 shares during the period. Bank of New York Mellon Corp lifted its stake in Reservoir Media by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 91,127 shares of the company's stock valued at $549,000 after buying an additional 2,626 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Reservoir Media by 27.2% during the fourth quarter. Bank of America Corp DE now owns 13,941 shares of the company's stock worth $83,000 after acquiring an additional 2,977 shares during the last quarter. Hedge funds and other 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.