Reservoir Media (NASDAQ:RSVR) Sees Large Volume Increase – Still a Buy?

Reservoir Media, Inc. (NASDAQ:RSVR) shares saw unusually-strong trading volume on Friday . Approximately 19,275 shares changed hands during trading, a decline of 11% from the previous session’s volume of 21,676 shares.The stock last traded at $8.11 and had previously closed at $8.25.

Analyst Upgrades and Downgrades

Separately, B. Riley increased their price target on Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Reservoir Media Price Performance

The company has a 50 day moving average price of $8.74 and a 200-day moving average price of $8.27. The company has a market cap of $552.41 million, a price-to-earnings ratio of -421.14, a P/E/G ratio of 11.79 and a beta of 0.94. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.90.

Hedge Funds Weigh In On Reservoir Media

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in Reservoir Media during the 2nd quarter worth $81,000. 272 Capital LP acquired a new position in shares of Reservoir Media in the third quarter worth approximately $122,000. E&G Advisors LP bought a new stake in Reservoir Media in the third quarter valued at approximately $246,000. Inspire Investing LLC increased its position in Reservoir Media by 13.7% during the 3rd quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock valued at $429,000 after purchasing an additional 6,375 shares during the period. Finally, Jane Street Group LLC raised its holdings in Reservoir Media by 22.5% during the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock worth $430,000 after purchasing an additional 9,742 shares during the last quarter. 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.