Charles Schwab Investment Management Inc. Grows Stake in Reservoir Media, Inc. (NASDAQ:RSVR)

Charles Schwab Investment Management Inc. increased its holdings in Reservoir Media, Inc. (NASDAQ:RSVR) by 6.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,951 shares of the company’s stock after purchasing an additional 4,087 shares during the period. Charles Schwab Investment Management Inc. owned 0.10% of Reservoir Media worth $519,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. E&G Advisors LP purchased a new stake in Reservoir Media in the 3rd quarter worth $246,000. Exchange Traded Concepts LLC increased its holdings in shares of Reservoir Media by 113.2% in the third quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock worth $551,000 after purchasing an additional 36,068 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Reservoir Media by 13.7% in the third quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock worth $429,000 after buying an additional 6,375 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Reservoir Media during the second quarter valued at approximately $81,000. Finally, Renaissance Technologies LLC boosted its stake in Reservoir Media by 134.9% during the second quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock valued at $559,000 after buying an additional 40,600 shares during the last quarter. 44.38% of the stock is currently owned by institutional investors.

Reservoir Media Price Performance

Reservoir Media stock opened at $8.84 on Friday. Reservoir Media, Inc. has a 52-week low of $5.95 and a 52-week high of $9.83. The company has a quick ratio of 1.25, a current ratio of 1.37 and a debt-to-equity ratio of 0.90. The firm’s fifty day moving average is $8.95 and its 200 day moving average is $8.07. The company has a market cap of $576.57 million, a price-to-earnings ratio of -441.78, a PEG ratio of 12.93 and a beta of 0.93.

Analysts Set New Price Targets

Separately, B. Riley upped their price objective on Reservoir Media from $11.50 to $12.50 and gave the stock a “buy” rating in a report on Thursday, October 31st.

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.