Reservoir Media (NASDAQ:RSVR) Sees Unusually-High Trading Volume

Reservoir Media, Inc. (NASDAQ:RSVR) shares saw an uptick in trading volume on Friday . 99,212 shares were traded during mid-day trading, an increase of 80% from the previous session’s volume of 55,206 shares.The stock last traded at $7.89 and had previously closed at $7.95.

Reservoir Media Price Performance

The firm has a market cap of $514.67 million, a price-to-earnings ratio of 108.57, a price-to-earnings-growth ratio of 10.86 and a beta of 1.07. The stock’s 50-day moving average price is $7.44 and its 200 day moving average price is $6.74. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.97.

Insiders Place Their Bets

In other news, major shareholder Hassan Khosrowshahi bought 16,608 shares of Reservoir Media stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $7.08 per share, with a total value of $117,584.64. Following the completion of the transaction, the insider now directly owns 100,000 shares in the company, valued at $708,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders bought 125,000 shares of company stock worth $892,329. 26.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Reservoir Media

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its position in shares of Reservoir Media by 533.4% during the 4th quarter. Barclays PLC now owns 5,492 shares of the company’s stock worth $33,000 after purchasing an additional 4,625 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Reservoir Media by 408.0% during the third quarter. Tower Research Capital LLC TRC now owns 5,954 shares of the company’s stock worth $36,000 after buying an additional 4,782 shares in the last quarter. Headinvest LLC bought a new position in shares of Reservoir Media in the third quarter valued at approximately $40,000. Wells Fargo & Company MN boosted its holdings in shares of Reservoir Media by 55.1% in the 2nd quarter. Wells Fargo & Company MN now owns 10,246 shares of the company’s stock worth $62,000 after acquiring an additional 3,639 shares in the last quarter. Finally, American International Group Inc. bought a new stake in Reservoir Media during the 2nd quarter worth approximately $62,000. 44.38% of the stock is currently owned by institutional investors.

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.