Reservoir Media (NASDAQ:RSVR) Sees Strong Trading Volume

Reservoir Media, Inc. (NASDAQ:RSVR) shares saw strong trading volume on Wednesday . 156,618 shares were traded during mid-day trading, an increase of 165% from the previous session’s volume of 59,152 shares.The stock last traded at $8.86 and had previously closed at $8.95.

Reservoir Media Stock Performance

The firm has a market cap of $564.58 million, a price-to-earnings ratio of 123.86, a P/E/G ratio of 12.39 and a beta of 0.97. The firm’s 50 day moving average price is $7.75 and its 200-day moving average price is $6.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.26 and a quick ratio of 1.14.

Insider Buying and Selling at Reservoir Media

In other news, major shareholder Hassan Khosrowshahi acquired 25,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $7.04 per share, with a total value of $176,000.00. Following the acquisition, the insider now owns 48,392 shares of the company’s stock, valued at approximately $340,679.68. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, 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 and hedge funds have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC acquired a new position in shares of Reservoir Media during the 1st quarter worth about $7,249,000. Irenic Capital Management LP grew its position in shares of Reservoir Media by 18.5% in the 4th quarter. Irenic Capital Management LP now owns 3,460,501 shares of the company’s stock valued at $24,673,000 after purchasing an additional 540,360 shares during the period. Federated Hermes Inc. grew its position in shares of Reservoir Media by 24.3% in the 4th quarter. Federated Hermes Inc. now owns 1,864,728 shares of the company’s stock valued at $13,296,000 after purchasing an additional 364,728 shares during the period. Weiss Asset Management LP grew its position in shares of Reservoir Media by 250.7% in the 4th quarter. Weiss Asset Management LP now owns 171,000 shares of the company’s stock valued at $1,219,000 after purchasing an additional 122,246 shares during the period. Finally, AWM Investment Company Inc. grew its position in shares of Reservoir Media by 15.0% in the 3rd quarter. AWM Investment Company Inc. now owns 701,662 shares of the company’s stock valued at $4,280,000 after purchasing an additional 91,768 shares during the period. 44.38% of the stock is 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.