Reservoir Media (NASDAQ:RSVR) Sees Strong Trading Volume – Time to Buy?

Reservoir Media, Inc. (NASDAQ:RSVR) shares 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 Analysts Forecast Growth

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

Reservoir Media Trading Up 0.9 %

The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $510.77 million, a price-to-earnings ratio of 71.19, a price-to-earnings-growth ratio of 7.16 and a beta of 0.92. The business has a fifty day simple moving average of $8.23 and a 200 day simple moving average of $8.30.

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

Institutional Investors Weigh In On Reservoir Media

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its stake in Reservoir Media by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 620,941 shares of the company’s stock worth $5,037,000 after acquiring an additional 13,836 shares during the period. State Street Corp increased its position in shares of Reservoir Media by 1.7% in the third quarter. State Street Corp now owns 374,862 shares of the company’s stock worth $3,040,000 after purchasing an additional 6,410 shares during the period. Dimensional Fund Advisors LP raised its stake in Reservoir Media by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company’s stock valued at $3,191,000 after purchasing an additional 55,396 shares in the last quarter. Northern Trust Corp lifted its position in Reservoir Media by 2.5% during the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company’s stock worth $1,843,000 after purchasing an additional 4,983 shares during the period. Finally, Hurley Capital LLC acquired a new stake in Reservoir Media during the fourth quarter worth about $1,183,000. 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.