Reservoir Media (NASDAQ:RSVR) Hits New 52-Week High – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $10.49 and last traded at $10.20, with a volume of 58265 shares changing hands. The stock had previously closed at $10.20.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research note on Friday, March 27th. B. Riley Financial cut shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen raised shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Reservoir Media presently has an average rating of “Hold” and an average target price of $11.50.

Reservoir Media Price Performance

The firm has a 50 day moving average of $9.92 and a 200-day moving average of $8.54. The company has a market cap of $665.84 million, a P/E ratio of 112.79 and a beta of 0.74. 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 posted its quarterly earnings results on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Reservoir Media had a return on equity of 1.77% and a net margin of 3.87%.The business had revenue of $47.50 million during the quarter, compared to the consensus estimate of $44.45 million. On average, equities research analysts predict that Reservoir Media, Inc. will post 0.1 EPS for the current year.

Hedge Funds Weigh In On Reservoir Media

A number of hedge funds and other institutional investors have recently modified their holdings of RSVR. BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of 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 holdings in shares of 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 grew its position in shares of Reservoir Media by 48.3% during the fourth 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 in the last quarter. Finally, Gabelli Funds LLC grew its position in shares of Reservoir Media by 19.6% during the third 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 in the last quarter. Institutional investors own 44.38% of the company’s stock.

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.