Geode Capital Management LLC Buys 13,836 Shares of Reservoir Media, Inc. (NASDAQ:RSVR)

Geode Capital Management LLC raised its stake in Reservoir Media, Inc. (NASDAQ:RSVR) by 2.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 620,941 shares of the company’s stock after purchasing an additional 13,836 shares during the quarter. Geode Capital Management LLC’s holdings in Reservoir Media were worth $5,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in RSVR. The Manufacturers Life Insurance Company purchased a new position in Reservoir Media in the second quarter worth $81,000. E&G Advisors LP bought a new stake in Reservoir Media during the third quarter worth about $246,000. Inspire Investing LLC purchased a new position in shares of Reservoir Media in the 2nd quarter worth about $367,000. Jane Street Group LLC increased its position in shares of Reservoir Media by 22.5% during 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 during the last quarter. Finally, Barclays PLC raised its holdings in shares of Reservoir Media by 44.1% during the 3rd quarter. Barclays PLC now owns 60,988 shares of the company’s stock valued at $495,000 after buying an additional 18,675 shares in the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Reservoir Media Price Performance

Shares of NASDAQ:RSVR opened at $8.49 on Friday. 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 stock has a market cap of $553.74 million, a PE ratio of -424.29, a PEG ratio of 12.93 and a beta of 0.93. The company’s fifty day moving average is $9.00 and its 200 day moving average is $8.18. Reservoir Media, Inc. has a 52 week low of $5.95 and a 52 week high of $9.83.

Reservoir Media 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.