Reservoir Media (NASDAQ:RSVR) Sees Strong Trading Volume

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) saw unusually-strong trading volume on Thursday . Approximately 256,599 shares changed hands during mid-day trading, an increase of 310% from the previous session’s volume of 62,543 shares.The stock last traded at $8.50 and had previously closed at $8.51.

Reservoir Media Stock Performance

The business has a 50 day moving average price of $7.90 and a 200 day moving average price of $7.00. 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 stock has a market capitalization of $544.49 million, a PE ratio of 122.29, a PEG ratio of 12.23 and a beta of 0.97.

Insider Activity at Reservoir Media

In other news, major shareholder Hassan Khosrowshahi acquired 30,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were acquired at an average price of $7.27 per share, for a total transaction of $218,100.00. Following the completion of the transaction, the insider now directly owns 130,000 shares of the company’s stock, valued at approximately $945,100. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders purchased 125,000 shares of company stock valued at $892,329. Corporate insiders own 26.27% of the company’s stock.

Institutional Investors Weigh In On Reservoir Media

A number of large investors have recently made changes to their positions in RSVR. Federated Hermes Inc. raised its stake in Reservoir Media by 24.3% during the 4th quarter. Federated Hermes Inc. now owns 1,864,728 shares of the company’s stock worth $13,296,000 after acquiring an additional 364,728 shares in the last quarter. Headinvest LLC acquired a new position in Reservoir Media in the 3rd quarter valued at about $40,000. Barclays PLC lifted its stake in shares of Reservoir Media by 968.5% during the 3rd quarter. Barclays PLC now owns 42,279 shares of the company’s stock worth $258,000 after purchasing an additional 38,322 shares during the period. Exchange Traded Concepts LLC boosted its stake in Reservoir Media by 13.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 44,629 shares of the company’s stock worth $318,000 after buying an additional 5,328 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Reservoir Media during the fourth quarter worth approximately $79,000. 44.38% of the stock is owned by hedge funds and other 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.