Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report) saw strong trading volume on Friday . 99,212 shares changed hands during trading, an increase of 80% from the previous session’s volume of 55,206 shares.The stock last traded at $7.89 and had previously closed at $7.95.
Reservoir Media Stock Performance
The company’s 50-day moving average is $7.44 and its two-hundred day moving average is $6.74. The company has a market capitalization of $514.67 million, a P/E ratio of 108.57, a PEG ratio of 10.86 and a beta of 1.07. The company has a quick ratio of 1.14, a current ratio of 1.26 and a debt-to-equity ratio of 0.97.
Insiders Place Their Bets
In related news, major shareholder Hassan Khosrowshahi acquired 30,000 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $7.23 per share, with a total value of $216,900.00. Following the acquisition, the insider now owns 200,000 shares of the company’s stock, valued at approximately $1,446,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 125,000 shares of company stock valued at $892,329 in the last quarter. Corporate insiders own 26.27% of the company’s stock.
Institutional Investors Weigh In On Reservoir Media
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.
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