Sanders Morris Harris LLC Sells 117,541 Shares of Reservoir Media, Inc. (NASDAQ:RSVR)

Sanders Morris Harris LLC trimmed its holdings in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 16.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 616,709 shares of the company’s stock after selling 117,541 shares during the period. Reservoir Media makes up 0.8% of Sanders Morris Harris LLC’s investment portfolio, making the stock its 20th largest holding. Sanders Morris Harris LLC’s holdings in Reservoir Media were worth $5,464,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Reservoir Media during the second quarter worth approximately $81,000. 272 Capital LP bought a new stake in Reservoir Media during the 3rd quarter valued at $122,000. E&G Advisors LP acquired a new position in Reservoir Media during the third quarter worth $246,000. Inspire Investing LLC bought a new position in shares of Reservoir Media in the second quarter valued at $367,000. Finally, Jane Street Group LLC grew its holdings in shares of Reservoir Media by 22.5% during the third quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock valued at $430,000 after buying an additional 9,742 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Reservoir Media Trading Down 0.5 %

Reservoir Media stock opened at $7.84 on Thursday. The stock has a market cap of $511.32 million, a P/E ratio of -391.80, a PEG ratio of 11.31 and a beta of 0.94. Reservoir Media, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $9.83. The firm’s fifty day moving average price is $8.94 and its 200-day moving average price is $8.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.37.

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.