Reservoir Media, Inc. (NASDAQ:RSVR) Shares Acquired by Jane Street Group LLC

Jane Street Group LLC lifted its holdings in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 22.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,018 shares of the company’s stock after buying an additional 9,742 shares during the period. Jane Street Group LLC’s holdings in Reservoir Media were worth $430,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Reservoir Media by 6.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 63,951 shares of the company’s stock worth $519,000 after purchasing an additional 4,087 shares in the last quarter. Inspire Investing LLC grew its position in Reservoir Media by 13.7% during 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 during the period. State Street Corp increased its position in shares of Reservoir Media by 1.7% in the third quarter. State Street Corp now owns 374,862 shares of the company’s stock valued at $3,040,000 after buying an additional 6,410 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Reservoir Media in the 2nd quarter valued at about $81,000. Finally, E&G Advisors LP purchased a new position in Reservoir Media during the 3rd quarter valued at about $246,000. 44.38% of the stock is owned by institutional investors and hedge funds.

Reservoir Media Price Performance

Shares of NASDAQ:RSVR opened at $8.22 on Wednesday. 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 market cap of $536.13 million, a PE ratio of -410.79, a price-to-earnings-growth ratio of 12.93 and a beta of 0.94. The business’s fifty day moving average price is $8.98 and its two-hundred day moving average price is $8.21. Reservoir Media, Inc. has a one year low of $5.95 and a one year high of $9.83.

Analyst Ratings Changes

Separately, B. Riley increased their price target 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 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.