Sanders Morris Harris LLC Sells 54,344 Shares of Reservoir Media, Inc. $RSVR

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

Other large investors also recently modified their holdings of the company. State Street Corp lifted its position in shares of Reservoir Media by 3.6% during the 2nd quarter. State Street Corp now owns 419,734 shares of the company’s stock worth $4,151,000 after purchasing an additional 14,704 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Reservoir Media during the second quarter worth $123,000. Irenic Capital Management LP increased its holdings in Reservoir Media by 1.3% in the second quarter. Irenic Capital Management LP now owns 6,260,176 shares of the company’s stock valued at $61,913,000 after buying an additional 79,000 shares during the last quarter. Nantahala Capital Management LLC purchased a new position in Reservoir Media in the second quarter valued at $9,306,094. Finally, Bank of America Corp DE purchased a new position in Reservoir Media in the second quarter valued at $179,000. 44.38% of the stock is owned by hedge funds and other institutional investors.

Reservoir Media Stock Up 0.4%

RSVR stock traded up $0.04 during trading on Wednesday, hitting $9.63. 53,537 shares of the company’s stock were exchanged, compared to its average volume of 75,982. The business has a 50-day moving average price of $9.64 and a two-hundred day moving average price of $9.96. The stock has a market capitalization of $633.75 million, a price-to-earnings ratio of 74.08 and a beta of 0.77. Reservoir Media, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.22.

Wall Street Analysts Forecast Growth

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

About Reservoir Media

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.