Reservoir Media (NASDAQ:RSVR) Sees Unusually-High Trading Volume

Reservoir Media, Inc. (NASDAQ:RSVR) saw unusually-high trading volume on Thursday . Approximately 256,599 shares were traded during 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 Trading Down 1.3 %

The company has a 50 day moving average of $7.90 and a 200 day moving average of $7.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.26. The stock has a market capitalization of $544.49 million, a price-to-earnings ratio of 122.29, a P/E/G ratio of 12.23 and a beta of 0.97.

Insiders Place Their Bets

In other Reservoir Media news, major shareholder Hassan Khosrowshahi acquired 23,392 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average cost of $7.00 per share, with a total value of $163,744.00. Following the transaction, the insider now owns 23,392 shares of the company’s stock, valued at $163,744. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have bought 125,000 shares of company stock valued at $892,329 over the last ninety days. Company insiders own 26.27% of the company’s stock.

Institutional Trading of Reservoir Media

Several hedge funds have recently made changes to their positions in the business. Headinvest LLC purchased a new stake in Reservoir Media during the 3rd quarter worth about $40,000. SG Americas Securities LLC acquired a new position in Reservoir Media in the fourth quarter valued at approximately $79,000. Barclays PLC increased its stake in Reservoir Media by 968.5% in the third quarter. Barclays PLC now owns 42,279 shares of the company’s stock valued at $258,000 after purchasing an additional 38,322 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Reservoir Media by 13.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 44,629 shares of the company’s stock worth $318,000 after purchasing an additional 5,328 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in shares of Reservoir Media by 31.1% during the 1st quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock worth $434,000 after buying an additional 12,989 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

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.