Reservoir Media (NASDAQ:RSVR) Shares Gap Up – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $7.98, but opened at $8.18. Reservoir Media shares last traded at $8.13, with a volume of 13,484 shares traded.

Reservoir Media Stock Up 3.9 %

The firm’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $7.80. The company has a market cap of $558.66 million, a P/E ratio of -858.14, a PEG ratio of 9.19 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.28.

Reservoir Media (NASDAQ:RSVR) last issued its earnings results on Wednesday, July 31st. The company reported ($0.01) EPS for the quarter. The firm had revenue of $34.32 million during the quarter, compared to the consensus estimate of $34.42 million. Reservoir Media had a net margin of 0.01% and a return on equity of 0.96%. On average, research analysts forecast that Reservoir Media, Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Reservoir Media

A number of hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its position in shares of Reservoir Media by 113.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock valued at $551,000 after purchasing an additional 36,068 shares during the period. Inspire Investing LLC lifted its stake in Reservoir Media by 13.7% in the third quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock valued at $429,000 after buying an additional 6,375 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Reservoir Media in the second quarter valued at approximately $81,000. Renaissance Technologies LLC increased its position in shares of Reservoir Media by 134.9% during the second quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock worth $559,000 after acquiring an additional 40,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Reservoir Media by 58.7% during the second quarter. Dimensional Fund Advisors LP now owns 231,113 shares of the company’s stock worth $1,824,000 after acquiring an additional 85,457 shares during the period. Institutional investors and hedge funds own 44.38% of the company’s stock.

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.