E&G Advisors LP Takes Position in Reservoir Media, Inc. (NASDAQ:RSVR)

E&G Advisors LP bought a new position in Reservoir Media, Inc. (NASDAQ:RSVR) during the third quarter, according to its most recent filing with the SEC. The firm bought 30,300 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds have also bought and sold shares of RSVR. Dimensional Fund Advisors LP raised its holdings in Reservoir Media by 58.7% during the second quarter. Dimensional Fund Advisors LP now owns 231,113 shares of the company’s stock worth $1,824,000 after buying an additional 85,457 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Reservoir Media in the 2nd quarter worth about $367,000. Renaissance Technologies LLC lifted its position in Reservoir Media by 134.9% in the 2nd quarter. Renaissance Technologies LLC now owns 70,700 shares of the company’s stock valued at $559,000 after acquiring an additional 40,600 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Reservoir Media by 113.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 67,930 shares of the company’s stock valued at $551,000 after purchasing an additional 36,068 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in 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 purchasing an additional 33,819 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

Reservoir Media Stock Down 0.9 %

RSVR stock opened at $8.85 on Friday. The firm has a market capitalization of $575.57 million, a PE ratio of -884.12, a P/E/G ratio of 9.92 and a beta of 0.90. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. Reservoir Media, Inc. has a twelve month low of $5.26 and a twelve month high of $9.20. The stock’s 50 day moving average is $7.78 and its 200-day moving average is $7.84.

Reservoir Media (NASDAQ:RSVR) last posted 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 firm had revenue of $34.32 million for the quarter, compared to the consensus estimate of $34.42 million. Sell-side analysts expect that Reservoir Media, Inc. will post 0.09 EPS 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.