Reservoir Media (NASDAQ:RSVR) Downgraded by B. Riley Financial to “Hold”

Reservoir Media (NASDAQ:RSVR) was downgraded by research analysts at B. Riley Financial from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages also recently issued reports on RSVR. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Reservoir Media has an average rating of “Hold” and an average price target of $11.50.

Reservoir Media Trading Up 2.2%

RSVR opened at $9.96 on Wednesday. The stock has a 50-day moving average of $7.72 and a 200 day moving average of $7.65. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21. Reservoir Media has a 12 month low of $6.56 and a 12 month high of $10.32. The firm has a market cap of $653.38 million, a P/E ratio of 110.68 and a beta of 0.84.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RSVR. Boston Partners lifted its holdings in Reservoir Media by 2.5% during the 4th quarter. Boston Partners now owns 91,492 shares of the company’s stock valued at $693,000 after buying an additional 2,248 shares in the last quarter. Invesco Ltd. increased its position in shares of Reservoir Media by 22.1% during the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after acquiring an additional 2,433 shares during the period. Barclays PLC raised its stake in shares of Reservoir Media by 2.4% during the fourth quarter. Barclays PLC now owns 132,513 shares of the company’s stock valued at $1,003,000 after acquiring an additional 3,087 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Reservoir Media by 3.6% in the first quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock valued at $687,000 after purchasing an additional 3,110 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Reservoir Media by 101.1% in the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after purchasing an additional 3,521 shares in the last quarter. 44.38% of the stock is currently owned by institutional investors.

About Reservoir Media

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.