Reservoir Media (NASDAQ:RSVR) Sees Strong Trading Volume – What’s Next?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) saw an uptick in trading volume on Friday . 20,198 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 29,963 shares.The stock last traded at $7.75 and had previously closed at $7.78.

Wall Street Analyst Weigh In

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

Reservoir Media Trading Up 0.9 %

The business’s 50 day simple moving average is $8.23 and its two-hundred day simple moving average is $8.30. The stock has a market cap of $510.77 million, a P/E ratio of 71.19, a PEG ratio of 7.16 and a beta of 0.92. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.03.

Reservoir Media (NASDAQ:RSVR) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Reservoir Media had a return on equity of 2.20% and a net margin of 5.04%. As a group, analysts expect that Reservoir Media, Inc. will post 0.11 EPS for the current year.

Institutional Trading of Reservoir Media

Several hedge funds and other institutional investors have recently made changes to their positions in RSVR. Millennium Management LLC boosted its position in Reservoir Media by 88.7% during the 4th quarter. Millennium Management LLC now owns 52,194 shares of the company’s stock worth $472,000 after buying an additional 24,528 shares during the period. Bank of America Corp DE raised its stake in shares of Reservoir Media by 21.3% during the fourth quarter. Bank of America Corp DE now owns 30,062 shares of the company’s stock valued at $272,000 after acquiring an additional 5,273 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Reservoir Media during the fourth quarter worth $51,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Reservoir Media in the fourth quarter worth $1,131,000. Finally, Northern Trust Corp increased its holdings in Reservoir Media by 2.5% in the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company’s stock valued at $1,843,000 after purchasing an additional 4,983 shares during the period. 44.38% of the stock is currently owned by 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.