JPMorgan Chase & Co. Boosts Stake in Reservoir Media, Inc. (NASDAQ:RSVR)

JPMorgan Chase & Co. increased its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 161.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,537 shares of the company’s stock after buying an additional 40,484 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of Reservoir Media worth $532,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RSVR. The Manufacturers Life Insurance Company purchased a new stake in Reservoir Media during the second quarter worth $81,000. 272 Capital LP purchased a new stake in shares of Reservoir Media during the 3rd quarter worth about $122,000. E&G Advisors LP acquired a new stake in shares of Reservoir Media during the 3rd quarter valued at about $246,000. Inspire Investing LLC grew its position in shares of Reservoir Media by 13.7% during the 3rd quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock valued at $429,000 after acquiring an additional 6,375 shares during the period. Finally, Jane Street Group LLC increased its stake in shares of Reservoir Media by 22.5% in the 3rd quarter. Jane Street Group LLC now owns 53,018 shares of the company’s stock valued at $430,000 after purchasing an additional 9,742 shares in the last quarter. 44.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, B. Riley lifted their target price on shares of Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a research report on Thursday, October 31st.

Reservoir Media Price Performance

NASDAQ:RSVR opened at $8.15 on Wednesday. Reservoir Media, Inc. has a one year low of $5.95 and a one year high of $9.83. The stock has a market cap of $531.54 million, a PE ratio of -407.30, a P/E/G ratio of 11.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.25 and a current ratio of 1.37. The stock has a 50 day moving average price of $8.77 and a 200 day moving average price of $8.27.

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.