Reservoir Media (NASDAQ:RSVR) Sets New 1-Year High at $8.39

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) hit a new 52-week high on Thursday . The stock traded as high as $8.39 and last traded at $8.35, with a volume of 16343 shares trading hands. The stock had previously closed at $8.30.

Reservoir Media Trading Up 6.6 %

The firm has a 50 day moving average price of $7.64 and a two-hundred day moving average price of $6.83. The company has a market cap of $589.88 million, a price-to-earnings ratio of 118.43, a PEG ratio of 12.20 and a beta of 1.07. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.97.

Insider Buying and Selling

In other Reservoir Media news, major shareholder Hassan Khosrowshahi bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average price of $7.23 per share, with a total value of $216,900.00. Following the completion of the purchase, the insider now directly owns 200,000 shares of the company’s stock, valued at approximately $1,446,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 125,000 shares of company stock valued at $892,329 over the last 90 days. Company insiders own 26.27% of the company’s stock.

Institutional Investors Weigh In On Reservoir Media

Several large investors have recently added to or reduced their stakes in RSVR. Sanders Morris Harris LLC acquired a new stake in Reservoir Media during the first quarter worth approximately $7,249,000. Irenic Capital Management LP grew its stake in Reservoir Media by 18.5% in the fourth quarter. Irenic Capital Management LP now owns 3,460,501 shares of the company’s stock valued at $24,673,000 after acquiring an additional 540,360 shares during the period. Federated Hermes Inc. grew its stake in Reservoir Media by 24.3% in the fourth quarter. Federated Hermes Inc. now owns 1,864,728 shares of the company’s stock valued at $13,296,000 after acquiring an additional 364,728 shares during the period. Weiss Asset Management LP grew its stake in Reservoir Media by 250.7% in the fourth quarter. Weiss Asset Management LP now owns 171,000 shares of the company’s stock valued at $1,219,000 after acquiring an additional 122,246 shares during the period. Finally, AWM Investment Company Inc. grew its stake in Reservoir Media by 15.0% in the third quarter. AWM Investment Company Inc. now owns 701,662 shares of the company’s stock valued at $4,280,000 after acquiring an additional 91,768 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.