Reservoir Media (NASDAQ:RSVR) Sees Large Volume Increase - Should You Buy?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 137,295 shares traded hands during mid-day trading, an increase of 188% from the previous session's volume of 47,621 shares.The stock last traded at $7.88 and had previously closed at $7.79.

Wall Street Analyst Weigh In

RSVR has been the topic of a number of research analyst reports. B. Riley restated a "buy" rating and issued a $11.50 target price (down from $12.50) on shares of Reservoir Media in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Reservoir Media from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd.

Reservoir Media Trading Down 2.8%

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.06. The stock's 50 day moving average price is $7.59 and its 200-day moving average price is $7.59. The stock has a market capitalization of $522.40 million, a P/E ratio of 72.73, a P/E/G ratio of 5.16 and a beta of 0.88.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.04. Reservoir Media had a net margin of 4.88% and a return on equity of 2.15%. The firm had revenue of $41.42 million for the quarter, compared to the consensus estimate of $40.31 million. As a group, equities research analysts expect that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Institutional Trading of Reservoir Media

A number of hedge funds and other institutional investors have recently made changes to their positions in RSVR. Inspire Investing LLC grew its position in Reservoir Media by 10.2% during the second quarter. Inspire Investing LLC now owns 51,610 shares of the company's stock valued at $396,000 after buying an additional 4,772 shares during the period. Goldman Sachs Group Inc. grew its position in Reservoir Media by 3.6% during the first quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company's stock valued at $687,000 after buying an additional 3,110 shares during the period. Jane Street Group LLC grew its position in shares of Reservoir Media by 56.7% in the first quarter. Jane Street Group LLC now owns 49,649 shares of the company's stock valued at $379,000 after purchasing an additional 17,963 shares during the period. Repertoire Partners LP acquired a new stake in shares of Reservoir Media in the first quarter valued at about $385,000. Finally, Irenic Capital Management LP grew its position 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 valued at $41,110,000 after purchasing an additional 65,421 shares during the period. Institutional investors and hedge funds own 44.38% of the company's stock.

About Reservoir Media

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.