Reservoir Media (NASDAQ:RSVR) Shares Up 3.4% – Should You Buy?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) rose 3.4% on Monday . The stock traded as high as $8.13 and last traded at $8.60. Approximately 451 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 25,652 shares. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

Separately, B. Riley increased 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 Stock Up 1.6 %

The business’s 50 day moving average is $8.67 and its 200 day moving average is $8.28. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.90.

Reservoir Media (NASDAQ:RSVR) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. Reservoir Media had a positive return on equity of 0.85% and a negative net margin of 0.22%. On average, sell-side analysts predict that Reservoir Media, Inc. will post 0.07 EPS for the current fiscal year.

Institutional Trading of Reservoir Media

A number of institutional investors have recently modified their holdings of RSVR. The Manufacturers Life Insurance Company acquired a new position in shares of Reservoir Media during the second quarter worth $81,000. Barclays PLC raised its position in Reservoir Media by 44.1% during the third quarter. Barclays PLC now owns 60,988 shares of the company’s stock valued at $495,000 after acquiring an additional 18,675 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Reservoir Media by 58.7% during 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in Reservoir Media by 161.6% during the third quarter. JPMorgan Chase & Co. now owns 65,537 shares of the company’s stock worth $532,000 after buying an additional 40,484 shares in the last quarter. Finally, State Street Corp increased its holdings in Reservoir Media by 1.7% in the third quarter. State Street Corp now owns 374,862 shares of the company’s stock valued at $3,040,000 after buying an additional 6,410 shares in the last quarter. 44.38% of the stock is currently owned by institutional investors.

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.