Reservoir Media (NASDAQ:RSVR) Sees Unusually-High Trading Volume - Should You Buy?

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw an uptick in trading volume on Monday . 153,568 shares changed hands during mid-day trading, an increase of 244% from the previous session's volume of 44,647 shares.The stock last traded at $7.94 and had previously closed at $7.99.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RSVR. Wall Street Zen upgraded Reservoir Media from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd. B. Riley restated a "buy" rating and set a $11.50 target price (down previously from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

Reservoir Media Trading Up 0.5%

The stock has a market cap of $524.38 million, a PE ratio of 73.01, a P/E/G ratio of 5.15 and a beta of 0.88. The firm has a 50-day simple moving average of $7.51 and a 200-day simple moving average of $7.64. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.06.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $41.42 million for the quarter, compared to the consensus estimate of $40.31 million. Reservoir Media had a return on equity of 2.15% and a net margin of 4.88%. Equities analysts forecast that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Reservoir Media

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. increased its holdings in shares of Reservoir Media by 67.7% in the first quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company's stock worth $2,906,000 after purchasing an additional 153,705 shares during the period. Hurley Capital LLC bought a new position in shares of Reservoir Media in the fourth quarter worth $1,183,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Reservoir Media in the fourth quarter worth $1,131,000. Irenic Capital Management LP increased its holdings in shares of Reservoir Media by 1.2% in the first quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company's stock worth $41,110,000 after purchasing an additional 65,421 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Reservoir Media by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock worth $3,191,000 after purchasing an additional 55,396 shares during the period. 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.