Reservoir Media, Inc. $RSVR Shares Sold by Sanders Morris Harris LLC

Sanders Morris Harris LLC trimmed its position in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 30.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,091 shares of the company’s stock after selling 54,344 shares during the period. Sanders Morris Harris LLC owned approximately 0.19% of Reservoir Media worth $1,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RSVR. Squarepoint Ops LLC acquired a new stake in shares of Reservoir Media in the second quarter valued at $123,000. Bank of America Corp DE acquired a new position in Reservoir Media during the 2nd quarter worth about $179,000. Deutsche Bank AG acquired a new position in Reservoir Media during the 2nd quarter worth about $189,000. Hsbc Holdings PLC boosted its holdings in Reservoir Media by 3.6% during the 4th quarter. Hsbc Holdings PLC now owns 58,507 shares of the company’s stock valued at $440,000 after acquiring an additional 2,042 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Reservoir Media by 64.1% during the 1st quarter. North Star Investment Management Corp. now owns 64,000 shares of the company’s stock valued at $627,000 after acquiring an additional 25,000 shares during the period. 44.38% of the stock is currently owned by hedge funds and other institutional investors.

Reservoir Media Stock Up 0.4%

Shares of Reservoir Media stock traded up $0.04 during trading hours on Wednesday, reaching $9.63. 53,537 shares of the company were exchanged, compared to its average volume of 75,982. The firm has a market cap of $633.75 million, a PE ratio of 74.08 and a beta of 0.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.31 and a current ratio of 1.31. Reservoir Media, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The stock’s fifty day moving average is $9.64 and its 200 day moving average is $9.96.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock has an average rating of “Hold”.

Reservoir Media Profile

Reservoir Media, Inc is a global independent music company that owns, administers and develops music rights. The company’s catalog includes copyrights in musical compositions and sound recordings spanning multiple genres, eras and territories.

Reservoir’s business activities include music publishing, recorded music, rights administration, and artist and songwriter services. It licenses compositions and recordings for uses such as streaming, television, film, advertising and other media, while also supporting the creative and commercial development of songwriters, artists and producers.

Founded in 2007, Reservoir has expanded through catalog acquisitions and relationships with artists, songwriters, producers and rights holders.