Reservoir Media, Inc. (NASDAQ:RSVR) Director Buys $28,152.16 in Stock

Reservoir Media, Inc. (NASDAQ:RSVR) Director Adam Rothstein purchased 4,016 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $7.01 per share, with a total value of $28,152.16. Following the purchase, the director now directly owns 272,256 shares in the company, valued at approximately $1,908,514.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Reservoir Media Price Performance

RSVR opened at $7.06 on Thursday. The firm’s fifty day moving average price is $8.08 and its two-hundred day moving average price is $7.43. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.93. Reservoir Media, Inc. has a 1 year low of $5.19 and a 1 year high of $9.20.

Hedge Funds Weigh In On Reservoir Media

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Headinvest LLC purchased a new position in shares of Reservoir Media in the 3rd quarter worth about $40,000. SG Americas Securities LLC purchased a new position in shares of Reservoir Media in the 4th quarter worth about $79,000. Barclays PLC boosted its holdings in shares of Reservoir Media by 968.5% in the 3rd quarter. Barclays PLC now owns 42,279 shares of the company’s stock worth $258,000 after buying an additional 38,322 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Reservoir Media by 13.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 44,629 shares of the company’s stock worth $318,000 after buying an additional 5,328 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Reservoir Media by 31.1% in 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. 44.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley lifted their price objective on shares of Reservoir Media from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Friday, May 31st.

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.