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

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

Reservoir Media Stock Up 0.1 %

The business has a fifty day simple moving average of $7.13 and a 200 day simple moving average of $6.53. The firm has a market cap of $514.02 million, a price-to-earnings 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.

Insider Buying and Selling at Reservoir Media

In other news, major shareholder Hassan Khosrowshahi bought 23,392 shares of Reservoir Media stock in a transaction on Friday, February 16th. The stock was acquired at an average price of $7.00 per share, with a total value of $163,744.00. Following the completion of the acquisition, the insider now directly owns 23,392 shares of the company’s stock, valued at $163,744. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 125,000 shares of company stock valued at $892,329 over the last quarter. 26.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Reservoir Media

A number of institutional investors have recently added to or reduced their stakes in RSVR. Irenic Capital Management LP purchased a new position in Reservoir Media during the second quarter worth approximately $12,878,000. Nantahala Capital Management LLC lifted its position in Reservoir Media by 57.2% during the fourth quarter. Nantahala Capital Management LLC now owns 1,550,797 shares of the company’s stock worth $11,057,000 after buying an additional 564,469 shares in the last quarter. Federated Hermes Inc. raised its position in Reservoir Media by 24.3% in the fourth 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. Balyasny Asset Management L.P. purchased a new stake in Reservoir Media in the first quarter valued at $1,532,000. Finally, Sanders Morris Harris LLC raised its position in Reservoir Media by 22.8% in the third quarter. Sanders Morris Harris LLC now owns 1,179,750 shares of the company’s stock valued at $7,196,000 after purchasing an additional 219,232 shares during the period. Hedge funds and other institutional investors 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.