Reservoir Media (NASDAQ:RSVR) Shares Gap Up – Here’s What Happened

Reservoir Media, Inc. (NASDAQ:RSVR) shares gapped up prior to trading 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 trading hands.

Reservoir Media Stock Performance

The stock’s 50 day moving average is $7.55 and its two-hundred day moving average is $7.79. The stock has a market capitalization of $535.90 million, a price-to-earnings ratio of -798,000.00, a price-to-earnings-growth ratio of 8.53 and a beta of 0.90. The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91.

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 for the quarter, compared to the consensus estimate of $34.42 million. Analysts expect that Reservoir Media, Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of Reservoir Media

A number of institutional investors have recently made changes to their positions in the business. Boston Partners increased its stake in Reservoir Media by 10.7% in the 1st 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 last quarter. The Manufacturers Life Insurance Company acquired a new position in Reservoir Media during the second quarter valued at approximately $81,000. GSA Capital Partners LLP grew its stake in Reservoir Media by 31.1% in the first quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock valued at $434,000 after purchasing an additional 12,989 shares in the last quarter. AWM Investment Company Inc. increased 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 worth $5,683,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 worth $8,651,000 after purchasing an additional 17,830 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

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.