Reservoir Media (NASDAQ:RSVR) Trading Up 6.5% – Still a Buy?

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price traded up 6.5% during mid-day trading on Monday . The company traded as high as $8.60 and last traded at $8.68. 3,813 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 23,355 shares. The stock had previously closed at $8.15.

Analysts Set New Price Targets

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

Reservoir Media Trading Down 2.7 %

The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.90. The company’s fifty day moving average price is $8.77 and its two-hundred day moving average price is $8.27.

Hedge Funds Weigh In On Reservoir Media

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Reservoir Media by 161.6% in the third quarter. JPMorgan Chase & Co. now owns 65,537 shares of the company’s stock worth $532,000 after acquiring an additional 40,484 shares in the last quarter. 272 Capital LP purchased a new stake in Reservoir Media during the third quarter worth about $122,000. Barclays PLC lifted its position in shares of Reservoir Media by 44.1% during the 3rd quarter. Barclays PLC now owns 60,988 shares of the company’s stock valued at $495,000 after acquiring an additional 18,675 shares during the period. Geode Capital Management LLC grew its holdings in shares of Reservoir Media by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 620,941 shares of the company’s stock worth $5,037,000 after acquiring an additional 13,836 shares during the period. Finally, Jane Street Group LLC increased its stake in Reservoir Media by 22.5% in the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock valued at $430,000 after purchasing an additional 9,742 shares in the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.