Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $9.20 and last traded at $9.13, with a volume of 3101 shares traded. The stock had previously closed at $9.11.
Analyst Ratings Changes
Separately, B. Riley lifted their price objective on shares of Reservoir Media from $11.50 to $12.50 and gave the company a “buy” rating in a report on Thursday, October 31st.
Read Our Latest Stock Analysis on RSVR
Reservoir Media Stock Performance
Hedge Funds Weigh In On Reservoir Media
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Reservoir Media by 58.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 231,113 shares of the company’s stock valued at $1,824,000 after purchasing an additional 85,457 shares in the last quarter. Inspire Investing LLC acquired a new stake in Reservoir Media in the second quarter valued at $367,000. Renaissance Technologies LLC lifted its holdings in Reservoir Media by 134.9% during the 2nd quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock worth $559,000 after buying an additional 40,600 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Reservoir Media by 113.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock worth $551,000 after acquiring an additional 36,068 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Reservoir Media by 14.8% during the 1st quarter. Russell Investments Group Ltd. now owns 261,691 shares of the company’s stock worth $2,075,000 after acquiring an additional 33,819 shares in the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.
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.
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