Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 156,618 shares were traded during trading, an increase of 165% from the previous session's volume of 59,152 shares.The stock last traded at $8.86 and had previously closed at $8.95.
Reservoir Media Stock Down 3.1 %
The stock has a fifty day moving average of $7.72 and a 200-day moving average of $6.89. The firm has a market capitalization of $562.01 million, a price-to-earnings ratio of 130.00, a PEG ratio of 12.90 and a beta of 1.07. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97.
Insider Buying and Selling at Reservoir Media
In other news, major shareholder Hassan Khosrowshahi purchased 30,000 shares of Reservoir Media stock in a transaction that occurred on Thursday, February 29th. The stock was acquired at an average price of $7.27 per share, for a total transaction of $218,100.00. Following the transaction, the insider now owns 130,000 shares in the company, valued at $945,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders bought 125,000 shares of company stock valued at $892,329. 26.27% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Reservoir Media
Several institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC boosted its holdings in shares of Reservoir Media by 13.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 44,629 shares of the company's stock worth $318,000 after purchasing an additional 5,328 shares during the period. Headinvest LLC purchased a new stake in shares of Reservoir Media during the third quarter worth $40,000. Russell Investments Group Ltd. boosted its position in Reservoir Media by 4.0% during the fourth quarter. Russell Investments Group Ltd. now owns 227,872 shares of the company's stock valued at $1,625,000 after purchasing an additional 8,701 shares during the last quarter. SG Americas Securities LLC acquired a new position in Reservoir Media in the 4th quarter worth about $79,000. Finally, Boston Partners raised its stake in shares of Reservoir Media by 17.9% during the 3rd quarter. Boston Partners now owns 79,370 shares of the company's stock worth $484,000 after purchasing an additional 12,071 shares in the last quarter. Hedge funds and other 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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