Reservoir Media (NASDAQ:RSVR) Shares Down 5.2% – Should You Sell?

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price fell 5.2% on Thursday . The stock traded as low as $8.58 and last traded at $8.58. 27,214 shares changed hands during trading, a decline of 50% from the average session volume of 54,377 shares. The stock had previously closed at $9.05.

Analyst Ratings Changes

Separately, B. Riley upped their price target on shares of Reservoir Media from $11.50 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, October 31st.

Reservoir Media Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The stock has a 50 day simple moving average of $9.00 and a 200-day simple moving average of $8.17. The firm has a market cap of $553.74 million, a PE ratio of -424.29, a price-to-earnings-growth ratio of 12.93 and a beta of 0.93.

Institutional Investors Weigh In On Reservoir Media

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in Reservoir Media by 161.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 65,537 shares of the company’s stock valued at $532,000 after acquiring an additional 40,484 shares during the last quarter. 272 Capital LP bought a new stake in shares of Reservoir Media in the third quarter worth about $122,000. Barclays PLC lifted its position in shares of Reservoir Media by 44.1% in the third quarter. Barclays PLC now owns 60,988 shares of the company’s stock worth $495,000 after buying an additional 18,675 shares in the last quarter. Geode Capital Management LLC boosted its stake in Reservoir Media by 2.3% during the third quarter. Geode Capital Management LLC now owns 620,941 shares of the company’s stock valued at $5,037,000 after buying an additional 13,836 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Reservoir Media by 22.5% during the third quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock valued at $430,000 after buying an additional 9,742 shares during the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.