Reservoir Media (NASDAQ:RSVR) Hits New 52-Week High at $7.76

Reservoir Media, Inc. (NASDAQ:RSVR) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.76 and last traded at $7.76, with a volume of 5809 shares traded. The stock had previously closed at $7.60.

Reservoir Media Stock Performance

The stock has a market cap of $514.02 million, a PE ratio of 113.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.26 and a quick ratio of 1.14. The business has a 50 day moving average price of $7.13 and a two-hundred day moving average price of $6.53.

Insider Activity

In related news, major shareholder Hassan Khosrowshahi acquired 30,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was purchased at an average price of $7.27 per share, with a total value of $218,100.00. Following the completion of the purchase, the insider now owns 130,000 shares in the company, valued at approximately $945,100. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders purchased 125,000 shares of company stock valued at $892,329. 26.27% of the stock is currently owned by company insiders.

Institutional Trading of Reservoir Media

Institutional investors have recently made changes to their positions in the stock. Irenic Capital Management LP bought a new position in shares of Reservoir Media during the second quarter valued at approximately $12,878,000. Nantahala Capital Management LLC raised its holdings in shares of Reservoir Media by 57.2% during the fourth quarter. Nantahala Capital Management LLC now owns 1,550,797 shares of the company’s stock valued at $11,057,000 after acquiring an additional 564,469 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Reservoir Media by 24.3% during 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 in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Reservoir Media during the first quarter valued at approximately $1,532,000. Finally, Sanders Morris Harris LLC raised its holdings in shares of Reservoir Media by 22.8% during the third quarter. Sanders Morris Harris LLC now owns 1,179,750 shares of the company’s stock valued at $7,196,000 after acquiring an additional 219,232 shares in the last quarter. Hedge funds and other 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.