Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report) shares crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $9.53 and traded as low as $9.51. Reservoir Media shares last traded at $9.52, with a volume of 27,186 shares traded.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, Reservoir Media currently has an average rating of “Hold”.
Read Our Latest Stock Analysis on Reservoir Media
Reservoir Media Stock Performance
The stock has a market capitalization of $626.51 million, a P/E ratio of 73.24 and a beta of 0.77. The company’s 50-day moving average is $9.55 and its two-hundred day moving average is $9.53. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.22.
Institutional Investors Weigh In On Reservoir Media
Several large investors have recently made changes to their positions in the company. Squarepoint Ops LLC acquired a new position in shares of Reservoir Media during the second quarter worth approximately $123,000. Bank of America Corp DE bought a new position in Reservoir Media in the 2nd quarter worth approximately $179,000. Deutsche Bank AG acquired a new stake in Reservoir Media in the 2nd quarter valued at approximately $189,000. Hsbc Holdings PLC increased its position in Reservoir Media by 3.6% in the 4th quarter. Hsbc Holdings PLC now owns 58,507 shares of the company’s stock valued at $440,000 after acquiring an additional 2,042 shares during the period. Finally, North Star Investment Management Corp. increased its position in Reservoir Media by 10.9% in the 3rd quarter. North Star Investment Management Corp. now owns 71,000 shares of the company’s stock valued at $673,000 after acquiring an additional 7,000 shares during the period. Institutional investors and hedge funds own 44.38% of the company’s stock.
Reservoir Media Company Profile
Reservoir Media, Inc is a global independent music company that owns, administers and manages rights to musical compositions and sound recordings. Its business includes music publishing, recorded music, rights management and royalty collection, serving songwriters, artists, producers and other rights holders.
The company’s catalog spans a broad range of genres and includes contemporary and historic songs, recordings and music-related intellectual property. Reservoir also operates record labels and provides services such as creative support, licensing, synchronization and administration for uses of music in film, television, advertising, video games and other media.
Founded in 2007, Reservoir has expanded through acquisitions and partnerships involving music publishing catalogs, recorded-music assets and related businesses.
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