Inspire Investing LLC Makes New $367,000 Investment in Reservoir Media, Inc. (NASDAQ:RSVR)

Inspire Investing LLC purchased a new stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 46,483 shares of the company’s stock, valued at approximately $367,000. Inspire Investing LLC owned approximately 0.07% of Reservoir Media at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Boston Partners boosted its stake in Reservoir Media by 10.7% during the first quarter. Boston Partners now owns 59,067 shares of the company’s stock valued at $468,000 after buying an additional 5,707 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Reservoir Media by 31.1% in the 1st quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock valued at $434,000 after acquiring an additional 12,989 shares in the last quarter. AWM Investment Company Inc. boosted its position in shares of Reservoir Media by 2.1% during the 1st quarter. AWM Investment Company Inc. now owns 716,662 shares of the company’s stock valued at $5,683,000 after acquiring an additional 15,000 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Reservoir Media by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock valued at $8,651,000 after acquiring an additional 17,830 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Reservoir Media by 14.8% during the first quarter. Russell Investments Group Ltd. now owns 261,691 shares of the company’s stock worth $2,075,000 after purchasing an additional 33,819 shares in the last quarter. 44.38% of the stock is currently owned by hedge funds and other institutional investors.

Reservoir Media Stock Performance

NASDAQ RSVR opened at $7.50 on Friday. Reservoir Media, Inc. has a 52-week low of $5.26 and a 52-week high of $9.20. The company has a fifty day moving average of $7.65 and a 200-day moving average of $7.76. The company has a market capitalization of $487.77 million, a P/E ratio of -750,000.00, a P/E/G ratio of 8.73 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.01) earnings per share (EPS) for the quarter. Reservoir Media had a return on equity of 0.96% and a net margin of 0.01%. The firm had revenue of $34.32 million during the quarter, compared to analysts’ expectations of $34.42 million. As a group, equities research analysts predict that Reservoir Media, Inc. will post 0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, B. Riley raised their target price on shares of Reservoir Media from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Friday, May 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.