Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $10.43 and last traded at $10.3830, with a volume of 53508 shares changing hands. The stock had previously closed at $10.16.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on RSVR shares. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a report on Friday, March 27th. Finally, B. Riley Financial lowered shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Reservoir Media presently has a consensus rating of “Hold” and a consensus target price of $11.50.
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Reservoir Media Stock Performance
Institutional Trading of Reservoir Media
Several institutional investors and hedge funds have recently made changes to their positions in RSVR. BNP Paribas Financial Markets raised its position in Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after purchasing an additional 3,521 shares during the period. Tower Research Capital LLC TRC raised its position in Reservoir Media by 373.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after purchasing an additional 5,918 shares during the period. Invesco Ltd. raised its position in Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after purchasing an additional 2,433 shares during the period. Wells Fargo & Company MN increased its position in shares of Reservoir Media by 48.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after acquiring an additional 7,421 shares during the period. Finally, Gabelli Funds LLC increased its position in shares of Reservoir Media by 19.6% in the third quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock valued at $224,000 after acquiring an additional 4,500 shares during the period. Hedge funds and other institutional investors own 44.38% of the company’s stock.
About Reservoir Media
Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles.
The company operates two primary segments: music publishing and recorded music.
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