Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw strong trading volume on Friday . 99,212 shares traded hands during trading, an increase of 80% from the previous session's volume of 55,206 shares.The stock last traded at $7.89 and had previously closed at $7.95.
Reservoir Media Stock Up 0.6 %
The firm has a fifty day simple moving average of $7.47 and a 200 day simple moving average of $6.75. 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 $518.56 million, a PE ratio of 108.57, a PEG ratio of 10.86 and a beta of 1.07.
Insider Buying and Selling
In related news, major shareholder Hassan Khosrowshahi purchased 23,392 shares of the firm's stock in a transaction on Friday, February 16th. The shares were bought at an average price of $7.00 per share, for a total transaction of $163,744.00. Following the acquisition, the insider now directly owns 23,392 shares in the company, valued at $163,744. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders purchased 125,000 shares of company stock valued at $892,329. Insiders own 26.27% of the company's stock.
Institutional Investors Weigh In On Reservoir Media
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new stake in shares of Reservoir Media during the 1st quarter worth about $118,000. Citigroup Inc. grew its stake in Reservoir Media by 309.4% during the first quarter. Citigroup Inc. now owns 28,843 shares of the company's stock worth $284,000 after buying an additional 21,797 shares during the period. Bank of Montreal Can acquired a new stake in shares of Reservoir Media in the first quarter worth $1,821,000. BlackRock Inc. increased its position in shares of Reservoir Media by 11.3% in the first quarter. BlackRock Inc. now owns 114,141 shares of the company's stock worth $1,122,000 after acquiring an additional 11,584 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Reservoir Media by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 881,761 shares of the company's stock valued at $8,667,000 after acquiring an additional 2,216 shares during the period. 44.38% of the stock is currently owned by institutional investors and hedge funds.
About Reservoir Media
(
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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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