Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report)'s share price traded up 3.4% during trading on Thursday . The stock traded as high as $7.86 and last traded at $7.86. 4,410 shares were traded during trading, a decline of 92% from the average session volume of 53,697 shares. The stock had previously closed at $7.60.
Reservoir Media Stock Up 4.6 %
The firm's 50-day moving average price is $7.40 and its 200 day moving average price is $6.73. The firm has a market cap of $515.32 million, a P/E ratio of 107.57, a price-to-earnings-growth ratio of 10.76 and a beta of 1.07. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.97.
Insider Activity at Reservoir Media
In related news, major shareholder Hassan Khosrowshahi bought 23,392 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average price of $7.00 per share, for a total transaction of $163,744.00. Following the transaction, the insider now directly owns 23,392 shares of the company's stock, valued at approximately $163,744. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 125,000 shares of company stock worth $892,329 in the last 90 days. Corporate insiders own 26.27% of the company's stock.
Hedge Funds Weigh In On Reservoir Media
Several large investors have recently made changes to their positions in the business. Irenic Capital Management LP boosted its position in shares of Reservoir Media by 18.5% during the 4th quarter. Irenic Capital Management LP now owns 3,460,501 shares of the company's stock valued at $24,673,000 after purchasing an additional 540,360 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Reservoir Media by 24.3% during the 4th quarter. Federated Hermes Inc. now owns 1,864,728 shares of the company's stock valued at $13,296,000 after purchasing an additional 364,728 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Reservoir Media by 8.7% in the first quarter. ArrowMark Colorado Holdings LLC now owns 1,570,927 shares of the company's stock worth $10,242,000 after acquiring an additional 126,055 shares in the last quarter. Nantahala Capital Management LLC increased its position in shares of Reservoir Media by 57.2% in the fourth quarter. Nantahala Capital Management LLC now owns 1,550,797 shares of the company's stock worth $11,057,000 after acquiring an additional 564,469 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its position in Reservoir Media by 22.8% in the third quarter. Sanders Morris Harris LLC now owns 1,179,750 shares of the company's stock worth $7,196,000 after acquiring an additional 219,232 shares in the last quarter. Institutional investors own 44.38% of the company's stock.
About Reservoir Media
(
Get Free Report)
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.
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