Reservoir Media (NASDAQ:RSVR) Trading Down 0.3% – Should You Sell?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) dropped 0.3% on Tuesday . The company traded as low as $9.89 and last traded at $10.01. Approximately 48,821 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 74,136 shares. The stock had previously closed at $10.04.

Analyst Ratings Changes

RSVR has been the topic of a number of analyst reports. B. Riley Financial cut shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Wall Street Zen raised shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reservoir Media in a report on Friday, March 27th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Down 0.1%

The stock’s 50-day moving average is $9.31 and its 200-day moving average is $8.11. The stock has a market cap of $665.18 million, a P/E ratio of 112.68 and a beta of 0.80. 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 (NASDAQ:RSVR) last announced 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. The firm had revenue of $45.57 million during the quarter, compared to analyst estimates of $42.63 million. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. As a group, research analysts anticipate that Reservoir Media, Inc. will post 0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after buying an additional 3,521 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Reservoir Media by 373.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after buying an additional 5,918 shares in the last quarter. Invesco Ltd. grew its position in Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after buying an additional 2,433 shares in the last quarter. Wells Fargo & Company MN grew its position in Reservoir Media by 48.3% in the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after buying an additional 7,421 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in Reservoir Media by 19.6% in the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock valued at $224,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

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.