Reservoir Media (NASDAQ:RSVR) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Reservoir Media (NASDAQ:RSVR) from a sell rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Reservoir Media presently has an average rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Up 1.1%

RSVR opened at $7.54 on Friday. The firm has a market cap of $494.62 million, a P/E ratio of 83.79 and a beta of 0.88. The business’s fifty day simple moving average is $7.47 and its 200 day simple moving average is $7.61. Reservoir Media has a 52 week low of $6.56 and a 52 week high of $8.46. The company has a quick ratio of 1.35, a current ratio of 1.19 and a debt-to-equity ratio of 1.21.

Reservoir Media (NASDAQ:RSVR) last released its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $42.63 million. As a group, equities research analysts anticipate that Reservoir Media will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Reservoir Media

Institutional investors have recently bought and sold shares of the business. First Pacific Advisors LP lifted its holdings in shares of Reservoir Media by 4,906.3% during the 2nd quarter. First Pacific Advisors LP now owns 329,066 shares of the company’s stock valued at $2,524,000 after acquiring an additional 322,493 shares in the last quarter. Irenic Capital Management LP increased its holdings in Reservoir Media by 3.2% in the 3rd quarter. Irenic Capital Management LP now owns 5,669,671 shares of the company’s stock valued at $46,151,000 after purchasing an additional 177,361 shares in the last quarter. Russell Investments Group Ltd. raised its position in Reservoir Media by 13.7% in the second quarter. Russell Investments Group Ltd. now owns 433,047 shares of the company’s stock valued at $3,321,000 after purchasing an additional 52,235 shares during the period. AWM Investment Company Inc. lifted its stake in shares of Reservoir Media by 6.3% during the second quarter. AWM Investment Company Inc. now owns 847,558 shares of the company’s stock worth $6,501,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Reservoir Media in the third quarter worth about $385,000. 44.38% of the stock is currently owned by hedge funds and other institutional investors.

Reservoir Media Company Profile

Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles.

The company operates two primary segments: music publishing and recorded music.