Russell Investments Group Ltd. Sells 81,983 Shares of Reservoir Media, Inc. (NASDAQ:RSVR)

Russell Investments Group Ltd. cut its position in Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,107 shares of the company's stock after selling 81,983 shares during the period. Russell Investments Group Ltd. owned 0.35% of Reservoir Media worth $2,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Reservoir Media by 2.3% in the third quarter. Geode Capital Management LLC now owns 620,941 shares of the company's stock valued at $5,037,000 after acquiring an additional 13,836 shares during the period. State Street Corp grew its position in Reservoir Media by 1.7% in the 3rd quarter. State Street Corp now owns 374,862 shares of the company's stock valued at $3,040,000 after purchasing an additional 6,410 shares during the period. Hurley Capital LLC bought a new stake in Reservoir Media during the 4th quarter valued at $1,183,000. JPMorgan Chase & Co. raised its holdings in Reservoir Media by 58.9% during the fourth quarter. JPMorgan Chase & Co. now owns 104,146 shares of the company's stock worth $943,000 after buying an additional 38,609 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Reservoir Media by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 63,951 shares of the company's stock valued at $519,000 after buying an additional 4,087 shares in the last quarter. 44.38% of the stock is owned by institutional investors.

Reservoir Media Stock Down 1.3 %

Shares of NASDAQ:RSVR traded down $0.09 during midday trading on Thursday, hitting $7.05. 2,060 shares of the company's stock were exchanged, compared to its average volume of 35,284. Reservoir Media, Inc. has a 12 month low of $6.56 and a 12 month high of $9.83. The company has a market cap of $459.89 million, a PE ratio of 64.10, a price-to-earnings-growth ratio of 7.16 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a 50 day moving average price of $7.42 and a 200-day moving average price of $8.22.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Reservoir Media had a return on equity of 2.20% and a net margin of 5.04%. On average, sell-side analysts anticipate that Reservoir Media, Inc. will post 0.11 EPS for the current fiscal year.

Reservoir Media 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.