Reservoir Media (NASDAQ:RSVR) Shares Up 1.1% – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price traded up 1.1% on Wednesday . The stock traded as high as $10.23 and last traded at $10.16. 33,191 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 67,794 shares. The stock had previously closed at $10.05.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. B. Riley Financial downgraded Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research note on Friday, March 27th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Reservoir Media presently has an average rating of “Hold” and an average target price of $11.50.

Reservoir Media Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21. The company has a market cap of $663.22 million, a PE ratio of 112.35 and a beta of 0.74. The firm has a 50 day moving average of $9.85 and a two-hundred day moving average of $8.36.

Institutional Trading of Reservoir Media

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Reservoir Media by 101.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after purchasing an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Reservoir Media by 373.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after purchasing an additional 5,918 shares during the last quarter. Invesco Ltd. boosted its stake in Reservoir Media by 22.1% during the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after purchasing an additional 2,433 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after purchasing an additional 7,421 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in Reservoir Media by 19.6% during the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock valued at $224,000 after purchasing an additional 4,500 shares during the last quarter. 44.38% of the stock is currently owned by hedge funds and other 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.