E&G Advisors LP Lowers Stock Position in Reservoir Media, Inc. (NASDAQ:RSVR)

E&G Advisors LP reduced its stake in Reservoir Media, Inc. (NASDAQ:RSVR) by 8.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,800 shares of the company’s stock after selling 2,500 shares during the quarter. E&G Advisors LP’s holdings in Reservoir Media were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RSVR. The Manufacturers Life Insurance Company purchased a new stake in shares of Reservoir Media in the 2nd quarter valued at $81,000. Barclays PLC grew its stake in Reservoir Media by 44.1% in the 3rd quarter. Barclays PLC now owns 60,988 shares of the company’s stock worth $495,000 after acquiring an additional 18,675 shares during the period. Dimensional Fund Advisors LP raised 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 worth $1,824,000 after buying an additional 85,457 shares during the period. JPMorgan Chase & Co. grew its position in Reservoir Media by 161.6% in the third quarter. JPMorgan Chase & Co. now owns 65,537 shares of the company’s stock valued at $532,000 after acquiring an additional 40,484 shares in the last quarter. Finally, State Street Corp grew its position in shares of Reservoir Media by 1.7% in the 3rd quarter. State Street Corp now owns 374,862 shares of the company’s stock worth $3,040,000 after acquiring an additional 6,410 shares in the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Price Performance

RSVR opened at $8.00 on Tuesday. The company has a fifty day moving average of $8.70 and a 200-day moving average of $8.28. The company has a current ratio of 1.37, a quick ratio of 1.25 and a debt-to-equity ratio of 0.90. Reservoir Media, Inc. has a twelve month low of $5.95 and a twelve month high of $9.83.

Analyst Ratings Changes

Separately, B. Riley upped their price objective on Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a research note on Thursday, October 31st.

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.