Inspire Investing LLC Makes New $367,000 Investment in Reservoir Media, Inc. (NASDAQ:RSVR)

Inspire Investing LLC bought a new position in Reservoir Media, Inc. (NASDAQ:RSVR) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 46,483 shares of the company’s stock, valued at approximately $367,000.

Other large investors have also recently modified their holdings of the company. Boston Partners lifted its holdings in Reservoir Media by 10.7% in the first quarter. Boston Partners now owns 59,067 shares of the company’s stock worth $468,000 after buying an additional 5,707 shares during the period. GSA Capital Partners LLP raised its position in shares of Reservoir Media by 31.1% in the 1st quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock worth $434,000 after acquiring an additional 12,989 shares in the last quarter. AWM Investment Company Inc. lifted its stake in shares of Reservoir Media by 2.1% in the 1st quarter. AWM Investment Company Inc. now owns 716,662 shares of the company’s stock valued at $5,683,000 after purchasing an additional 15,000 shares during the period. Vanguard Group Inc. grew its stake in Reservoir Media by 1.7% in the first 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 during the period. Finally, Russell Investments Group Ltd. raised its holdings in Reservoir Media by 14.8% in the first quarter. Russell Investments Group Ltd. now owns 261,691 shares of the company’s stock worth $2,075,000 after purchasing an additional 33,819 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley boosted their target price on shares of Reservoir Media from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, May 31st.

Reservoir Media Stock Performance

Reservoir Media stock opened at $7.50 on Friday. Reservoir Media, Inc. has a twelve month low of $5.26 and a twelve month high of $9.20. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $487.77 million, a P/E ratio of -750,000.00, a PEG ratio of 8.73 and a beta of 0.90. The stock’s 50 day moving average is $7.65 and its 200 day moving average is $7.76.

Reservoir Media (NASDAQ:RSVR) last released its earnings results on Wednesday, July 31st. The company reported ($0.01) EPS for the quarter. Reservoir Media had a return on equity of 0.96% and a net margin of 0.01%. The company had revenue of $34.32 million during the quarter, compared to the consensus estimate of $34.42 million. On average, equities research analysts predict that Reservoir Media, Inc. will post 0.09 earnings per share for the current fiscal year.

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.