Reservoir Media (NASDAQ:RSVR) Reaches New 1-Year High – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR) reached a new 52-week high during trading on Monday . The stock traded as high as $9.66 and last traded at $9.64, with a volume of 4135 shares. The stock had previously closed at $9.44.

Analyst Ratings Changes

Separately, B. Riley boosted their price target on shares of Reservoir Media from $11.50 to $12.50 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Reservoir Media Stock Up 2.1 %

The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. The company has a market cap of $628.75 million, a price-to-earnings ratio of -482.50, a PEG ratio of 13.49 and a beta of 0.89. The firm’s fifty day simple moving average is $8.55 and its 200 day simple moving average is $7.95.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Reservoir Media in the 2nd quarter valued at $81,000. Dimensional Fund Advisors LP boosted its holdings in shares of Reservoir Media by 58.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 231,113 shares of the company’s stock valued at $1,824,000 after buying an additional 85,457 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Reservoir Media by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock valued at $8,651,000 after buying an additional 17,830 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Reservoir Media in the 2nd quarter valued at $367,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Reservoir Media by 113.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock valued at $551,000 after buying an additional 36,068 shares in the last quarter. 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.