Reservoir Media (NASDAQ:RSVR) Sets New 1-Year High – Still a Buy?

Reservoir Media, Inc. (NASDAQ:RSVR) reached a new 52-week high on Tuesday . The stock traded as high as $9.20 and last traded at $9.13, with a volume of 3101 shares changing hands. The stock had previously closed at $9.11.

Analyst Upgrades and Downgrades

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

Reservoir Media Trading Down 0.1 %

The company’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $7.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.37 and a quick ratio of 1.25. The firm has a market cap of $579.15 million, a price-to-earnings ratio of -443.78, a P/E/G ratio of 12.70 and a beta of 0.89.

Institutional Investors Weigh In On Reservoir Media

Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in shares of Reservoir Media during the second quarter worth approximately $81,000. Dimensional Fund Advisors LP increased its position in shares of Reservoir Media by 58.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 231,113 shares of the company’s stock valued at $1,824,000 after purchasing an additional 85,457 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Reservoir Media by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock valued at $8,651,000 after purchasing an additional 17,830 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Reservoir Media by 14.8% in the 1st quarter. Russell Investments Group Ltd. now owns 261,691 shares of the company’s stock valued at $2,075,000 after purchasing an additional 33,819 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Reservoir Media during the 2nd quarter worth $367,000. Hedge funds and other institutional investors 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.